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Author Question: Which of the following statements regarding external financial reporting for a Debt Service Fund is ... (Read 139 times)

Caiter2013

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on: Jul 6, 2018
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


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6ana001

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Reply #1 on: Jul 6, 2018
Answer to Question 1

B

Answer to Question 2

F


Caiter2013

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Reply 2 on: Jul 6, 2018
Thanks for the timely response, appreciate it

bigcheese9

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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