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ch4aika [34]
3 years ago
6

Which of the following transactions is reported on the government-wide financial statements? Multiple Choice An interfund loan f

rom the General Fund to a special revenue fund. Equipment used by the General Fund is transferred to an internal service fund that predominantly serves departments that are engaged in governmental activities. The City Airport Fund, an enterprise fund, transfers a portion of boarding fees charged to passengers to the General Fund. An interfund transfer is made between the General Fund and the Debt Service Fund.
Business
1 answer:
Anettt [7]3 years ago
4 0

Answer:

The correct answer is the third option: The City Airport Fund, an enterprise fund, transfers a portion of boarding fees charged to passengers to the General Fund.

Explanation:

To begin with, the name of "government-wide financial statements" is refered to the type of statements that bring all the financial activity together in one single place with the purpose to report certain economic information so that the people in charge of certain things can go and see all that information in order to use as a tool for the decision making process when the case arise. Moreover, this type of statements are the ones who organized all that information depending on whether it comes from the activities done by the government or done by the companies and businesses of the nation.

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On May 1, Ramona and Santonio orally agree that Santonio will guide a party from the base of Mount McKinley to its summit and fr
yan [13]

Answer:

1.Contract is express

2.Contract executory

Please explanation below.

Explanation:

1)Contract is Expressed

Expressed contract consist of agreement in which terms are stated by parties either orally or in written .  

2) The contract is executory

Since contract is performed only by Santonio and since Ramona will make payment on 1 june ,on 31 may it is still to be performed by ramona  so the contract is executory (only part performance is made) .An executory contract is a contract that has not yet been fully performed or fully executed. It is a contract in which both sides still have important performance remaining.

4 0
3 years ago
On a shopping​ trip, Melanie decided to buy a light blue coat made from woven fabric. A tag on the coat stated that the price wa
ra1l [238]

Answer:

Consumer surplus is $15.99.

Explanation:

Melanie decided to buy a coat priced $79.95.  

When she brought a coat to the sales clerk, she found out that it is on a 20% discount and she has to $15.99 less than the original price.  

This means that her consumer surplus is at least $15.99.  

The consumer surplus is the difference between the maximum price a consumer is willing to pay and the price it actually pays.  

Melanie was willing to pay $79.95. But she actually paid $63.96. The difference between the two is $15.99.  

6 0
3 years ago
Television advertisements aired during major sporting events are very expensive. A theory asserting that people buy a product si
Diano4ka-milaya [45]

Answer:

a. enhances the effectiveness of the advertisement.

Explanation:

Television advertisements aired during major sporting events are very expensive. A theory asserting that people buy a product simply because it is advertised would suggest that information on the high cost of advertising enhances the effectiveness of the advertisement.

The main aim and objectives of advertising is to increase sales and profit of a business, thus, ads would help to reach out to the target audience and create brand awareness but often it comes with a price.

7 0
3 years ago
Kerry, Inc., exchanged land and cash of $8,900 for equipment. The land had a book value of $64,000 and a fair value of $69,900.
kipiarov [429]

Answer:

Explanation:

The journal entry is shown below:

Equipment A/c Dr $78,800

    To Gain on exchange A/c  $5,900                      

    To Land A/c $64,000

    To Cash A/c $8,900

(Being the exchange is recorded and the remaining balance is credited to the gain on exchange account)

The equipment value is computed below:

= Fair value + exchange value

= $69,900 + $8,900

= $78,800

3 0
3 years ago
"When Erica calculates the current assets for her picture framing business, she should not include which of the following? Group
Sergio [31]

Answer:

Accounts payable

Explanation:

Accounts payable is the amount that the firms owes to its suppliers. It is a current liability as it should be paid back within a year. Current assets represent current economic benefits of the firm that is utilized within the operating cycle of the firm. which is generally a year. Examples of current assets are inventory, accounts receivables (amount owed to the firm by customers) and cash in hand.

As such, other options except accounts payable are included in Erica's business as current assets.

4 0
3 years ago
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