The adjustment for salaries owed but not yet paid to employees ...

[fnuegbu]

The adjustment for salaries owed but not yet paid to employees will decrease the balance in the Salary Expense account.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Proprietary funds
 
  a. Must apply all FASB standards that do not conflict with a GASB standard.
  b. Have the option to apply or not apply each individual FASB standard issued since November 30, 1989 that does not conflict with GASB standards
  c. Are required to apply all FASB standards that were issued since November 30, 1989 that do not conflict with GASB standards
  d. Are permitted either to apply all of or to apply none of the FASB standards issued since November 30, 1989 that do not conflict with GASB standards.

[olderstudent]

Answer to Question 1

False

Answer to Question 2

D