This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following statements is true about transfers into an Enterprise Fund? a. They are ... (Read 27 times)

itsmyluck

  • Hero Member
  • *****
  • Posts: 546
on: Jul 6, 2018
Which of the following statements is true about transfers into an Enterprise Fund?
 
  a. They are always reported as capital and related financing activities in the statement of cash flows.
  b. They are always reported after operating income in the statement of revenues, expenses, and changes in net assets.
  c. They do not affect changes in net assets of the proprietary fund.
  d. They are always reported as noncapital financing activities in the statement of cash flows.

Question 2

Which of the following statements is NOT true about closing entries for a merchandising business?
 a. The closing entries for a merchandise business have a different closing order than a service business.
  b. Nominal Accounts are closed at the end of the fiscal period.
  c. Temporary-equity accounts are closed at the end of the fiscal period.
  d. None of the above are true.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

robbielu01

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 6, 2018
Answer to Question 1

B

Answer to Question 2

A


itsmyluck

  • Member
  • Posts: 546
Reply 2 on: Jul 6, 2018
Excellent

ultraflyy23

  • Member
  • Posts: 312
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

True-color view of Mars seen through NASA's Hubble Space Telescope in 1999 True-color view of Mars seen through NASA's Hubble Space Telescope in 1999
True Friendship True Friendship
A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact, A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact,
Examples of Mission Statements Examples of Mission Statements
How to convert verbal statements into algebraic equations (Part 2) How to convert verbal statements into algebraic equations (Part 2)
Anterosuperior view of true pelvis (blue) Anterosuperior view of true pelvis (blue)
Video: Bond types - Atomic structure and basis of bonds

For a complete list of videos, visit our video library