Answer and Explanation:
The journal entries are shown below;
a. Investment Dr $37,282
To Cash $37,282
(being the investment in bonds is recorded)
b.
Cash (($1,000 × $40) × 0.07 × 6 ÷ 12) $1,400
Investment $91
To interest revenue ($37,282 ×8% × 6 ÷ 12) $1,491
(Being the first interest payment is recorded)
Answer: Controlling
Explanation:
Controlling is a management process which involves comparing the outcome of an organization's processes to the targets set for those processes beforehand, and taking corrective measures in case the outcome is deviating from the set targets. For example, a manager of a business running at a loss, can identify the cause of the loss and find ways of correcting the negative outcome.
Answer:
C. Letter C; demand exceeds supply, resulting in a shortage
Explanation:
I had put my answer as A on the test and got it wrong. But this is the correct answer C.
Answer: False
Explanation:
The Basic Financial Statements for a Proprietary Fund includes:
1. Statement of net position
2. Statement of revenues, expenses
3. Statement of changes in fund net position