Author Question: Business-type activities differ from governmental-type activities in that a. Most capital assets ... (Read 156 times)

APUS57 · **on:** Jul 6, 2018

Business-type activities differ from governmental-type activities in that

a. Most capital assets of business-type activities are considered to be revenue producing capital assets, while those in governmental-type activities generally are not.
b. Business-type activities never have the power to levy a tax.
c. Business-type activities do not adopt a budget.
d. All of the above statements accurately reflect actual differences between business-type and governmental-type activities.
e. Items b and c only accurately reflect primary differences between business-type and governmental-type activities.

Question 2

If a customer purchases goods for 560 on account and later is issued a credit memorandum to receive credit for the return of 160 of goods, the balance due is
a. 160.
b. 400.
c. 560.
d. 720.
e. none of these.