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Author Question: Net income appears on which of the following a. Income Statement b. Statement of Owner's Equity ... (Read 146 times)

TFauchery

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on: Jul 6, 2018
Net income appears on which of the following
 a. Income Statement
  b. Statement of Owner's Equity
  c. Balance Sheet
  d. Both A & B

Question 2

Which of the following is an appropriate use of a fund balance restriction?
 
  A. To report the amount of capital assets acquired during the year.
  B. To indicate that the finance director is setting aside a substantial amount of resources for a special project.
  C. To report the amount of long-term debt that will mature in the next 12 months.
  D. To report amounts that can only be used for specific purposes due to debt covenant constraints.


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wuly

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

D

Answer to Question 2

D


TFauchery

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Reply 2 on: Jul 6, 2018
Great answer, keep it coming :)

samiel-sayed

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

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