Author Question: A net loss will occur if revenues are a. greater than expenses b. less than expenses c. equal to ... (Read 209 times)

lunatika · **on:** Jul 6, 2018

A net loss will occur if revenues are
a. greater than expenses
b. less than expenses
c. equal to expenses
d. greater than Cost of Goods Sold

Question 2

Apex County advance refunded 3,000,000 of outstanding bonds. 2,500,000 was financed with refunding bond proceeds and the remaining 500,000 was transferred from the General Fund. The county incurred 35,000 of bond issuance costs.

Which of the following statements about the reporting of these transactions in the Debt Service Fund is not true? The Debt Service Fund financial statements would report
a. 2,500,000 of other financing uses.
b. t expenditures of 535,000.
c. transfers in of 500,000.
d. a CREDIT to other financing sources.
e. net other financing sources of 500,000