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

Author Question: All of the following statements regarding a Debt Service Fund are true except a. A Debt Service ... (Read 80 times)

codyclark

  • Hero Member
  • *****
  • Posts: 538
on: Jul 6, 2018
All of the following statements regarding a Debt Service Fund are true except
 
  a. A Debt Service Fund is rarely used to account for all of a governmental entity's general obligation bond repayments.
  b. Debt service on capital lease obligations is generally not accounted for in a Debt Service Fund.
  c. A government may have several Debt Service Funds, or it may use one Debt Service Fund to account for multiple general government debt issuances.
  d. All of the above statements are true.
  e. Both items b and c are false.

Question 2

If the Income Summary account has a debit of 60,000 and a credit of 65,000 after adjusting entries have been journalized and posted, 65,000 represents the ending inventory.
 a. True
   b. False
   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

JaynaD87

  • Sr. Member
  • ****
  • Posts: 368
Reply #1 on: Jul 6, 2018
Answer to Question 1

A

Answer to Question 2

True


codyclark

  • Member
  • Posts: 538
Reply 2 on: Jul 6, 2018
YES! Correct, THANKS for helping me on my review

scottmt

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

True Friendship True Friendship
Adapoids and omomyoids had longer snouts and are the first “true” primates. Adapoids and omomyoids had longer snouts and are the first “true” primates.
Poverty comes in many forms. Families who go into debt to buy possessions squeak by month after ... Poverty comes in many forms. Families who go into debt to buy possessions squeak by month after ...
Note the discovery as the air filter housing was opened during service on a Pontiac Bonneville. The ... Note the discovery as the air filter housing was opened during service on a Pontiac Bonneville. The ...
US federal budget deficit/surplus and debt US federal budget deficit/surplus and debt
One year ago, Christos bought 1000 units of the Dominion Aggressive Growth Fund at $20.35 per ... One year ago, Christos bought 1000 units of the Dominion Aggressive Growth Fund at $20.35 per ...
Video: Cell mediated immune response to a viral infection Animation

For a complete list of videos, visit our video library