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Author Question: A school district receives a federal grant of 200,000 that is restricted to support a program ... (Read 76 times)

CBme

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on: Jul 6, 2018
A school district receives a federal grant of 200,000 that is restricted to support a program designed to teach elementary school students a foreign language. The grant pays for only about five percent of the program costs.
 
  The remaining funds for the program come from a special tax levy made for this purpose. The program is accounted for in one fund. Which of the following funds could be used for this activity?
  A. Special Revenue Fund.
  B. Enterprise Fund.
  C. General Fund.
  D. Agency Fund.

Question 2

Credit card receipts, cash, checks, electronic funds transfers are all examples of source documents that would be recorded in the following journal:
 a. Sales Journal
   b. Purchase Journal
   c. Cash Receipts Journal
   d. General Journal


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medine

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

Sent you a PM please check your forum inbox. Thank you

Answer to Question 2

c


CBme

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

vickyvicksss

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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