What does the Undeposited Funds account represent? a. This ...

[humphriesbr@me.com]

What does the Undeposited Funds account represent?
 a. This account is a permanent account.
   b. This is only used for reconciliations.
   c. This is a holding account used until you make a deposit at the bank.
   d. None of the above

Question 2

A government issued bond anticipation notes to provide initial financing for a general government capital project. The bond anticipation note
 
  a. proceeds are always reported as an other financing source in the Capital Projects Fund.
  b. payable should be reported as a liability of the Capital Projects Fund except when the original term of the notes exceeds one year.
  c. payable must always be repaid from a Debt Service Fund.
  d. None of the above.

[milbourne11]

Answer to Question 1

c

Answer to Question 2

D

[humphriesbr@me.com]

Correct answers!

[milbourne11]

Great! Please up vote