Author Question: All of the following transactions decreases the fund balance of a governmental fund except a. ... (Read 78 times)

sammy · **on:** Jul 6, 2018

All of the following transactions decreases the fund balance of a governmental fund except

a. purchase of equipment.
b. retirement of the principal of a short-term note.
c. transfer to a Debt Service Fund.
d. purchase and use of supplies.

Question 2

Payment of merchandise purchased on account within the discount period is recorded in the cash payments journal.
a. True
b. False
Indicate whether the statement is true or false