Author Question: Managerial accounting information is used by external and internal users equally. a. True b. False ... (Read 111 times)

Cooldude101 · **on:** Jul 6, 2018

Managerial accounting information is used by external and internal users equally.
a. True
b. False

Indicate whether the statement is true or false

Question 2

A government received 30,000 of interest on investments of its General Fund during the year. The fair value of its investments increased by 3,500 during the year.

In its General Fund statement of revenues, expenditures, and changes in fund balance the government should report
A. Investment income of 30,000 as revenues and the increase in the fair value of investments of 3,500 as an other financing source.
B. Investment income of 33,500 as revenues.
C. Investment income of 33,500 as an other financing source.
D. Investment income of 30,000 as revenues and disclose the increase in the fair value of investments in the notes to the financial statements.