True I think I am not 100% sure
Answer:
Reserves is your answer...
Explanation:
Hope this helps you!!!
Answer:
Liability
Explanation:
The city classify the proceeds from the note as a Liability if it were to prepare governmental-type fund financial statements on March 31.
Liabilities:
These are the debts which company has to pay. If company has liabilities it means company has to pay to some other entity/supplier or someone for its debts. It includes loans,account payable and many other accounts in financial statement.
In our case company has borrowed $800,000 in January and will repay in May after taxes are collected. If city has to prepare the financial statement before May then this $800,000 will be the liability in the statement.
Answer:
The answer is D
Explanation:
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