This topic contains a solution. Click here to go to the answer

Author Question: Which of the following statements regarding external financial reporting for a Debt Service Fund is ... (Read 142 times)

Caiter2013

  • Hero Member
  • *****
  • Posts: 607
Which of the following statements regarding external financial reporting for a Debt Service Fund is false?
 
  a. A balance sheet is required.
  b. A statement of cash flows is required.
  c. A budget-to-actual statement is not required.
  d. A statement of revenues, expenditures, and changes in fund balance is required.
  e. A budget-to-actual statement may be prepared for internal use.

Question 2

The Sales Discounts account is shown with the Other Expenses on the income statement.
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

6ana001

  • Sr. Member
  • ****
  • Posts: 311
Answer to Question 1

B

Answer to Question 2

F




Caiter2013

  • Member
  • Posts: 607
Reply 2 on: Jul 6, 2018
YES! Correct, THANKS for helping me on my review


LegendaryAnswers

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

For a complete list of videos, visit our video library