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kvv77 [185]
3 years ago
10

Which of the following funds of a governmental unit uses the same basis of accounting as an enterprise fund?

Business
1 answer:
ycow [4]3 years ago
3 0

Answer:

The correct answer is a. Special revenue.

Explanation:

A special revenue fund is an account established by a government to raise money that must be used for a specific project. Special income funds provide an extra level of responsibility and transparency to taxpayers that their taxes will be used for a specific purpose.

Example: A city could establish a special income fund to pay the costs associated with stormwater management. The money from this fund could only be used for stormwater management expenses, such as street sweeping, sewer and ditch cleaning, system maintenance and a public awareness campaign. The city would have to publicly report where it raised the money from the special income fund and how it spent the budget of the special income fund.

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Sheridan considers herself a religious person who attends worship services regularly, but she did not attend worship services fo
shusha [124]

The answer is: averaged over time, Sheridan attends worship services regularly.

When we use principle of aggregation, we would not rely on single measurement to make a representation of a person's behavior. We rely more on multiple sets of measurements.

From the case above, Sheridan not attending the services for two weeks could be explained by things such as personal issues or physical illness. Since she considers herself as religious who attend regularly, it is very likely that averaged over time, Sheridan attends worship services regularly.

8 0
3 years ago
Read 2 more answers
Michael is a U.S. citizen who currently lives in St. Louis. He hires John, an authorized vintage car broker (also a U.S. citizen
Andrei [34K]

Answer:

The correct answer is C. Only John's commission will be counted in the U.S.

Explanation:

When developing a job that generates income in St. Louis, it is considered that any sale you make because you are within the United States is taken into account within the GNP. For its part, the country that produced the car should consider it as GDP because it is part of the production carried out in a different jurisdiction.

3 0
2 years ago
The listing agent received a full price offer that she faxed to the out-of-town seller. The seller signed the faxed copy, and fa
ExtremeBDS [4]

Answer: Yes contract has been formed.

Explanation: According to the Uniform Electronic Transaction Act (UETA), electronic transactions are just as binding as transactions made on hardcopy documents. Moreover signatures made electronically reinforces the validity of these elctronic documents.

In the scenario the actual signature was signed on a hard copy by the seller, but it was then faxed back to the listing agent. This faxed copy, showing the faxed signature, is an electronic document that confirms the existence of the contract in accordance with the UETA. This faxed signature is as enforceable as an ink signature.

6 0
3 years ago
Identify each of the following terms or phrases as an accounting (a) principle, (b) assumption, or (c) constraint.
german

Answer and Explanation:

The identification of the following terms as an accounting principle, assumption or constraint is

1 Business entity    = Assumption

2. Measurement  = Principle

3 Cost-benefit   = Constraint

4 Revenue recognition  = Principle

In this way the identification of the accounting terms would be done

The same is relevant too

7 0
2 years ago
Sales revenue
Ne4ueva [31]

Answer:

may be recorded before cash is collected.

Explanation:

Sales revenue "may be recorded before cash is collected."

This is according to Accrual accounting, which unlike the cash model that requires payments to be made before sales revenue is recorded.

In the Accrual accounting model, sales revenue recording is not based on cash collection before it is recorded. Here, the revenue is recorded in as much the transferred goods are made and collection of payment is determined or expected.

4 0
2 years ago
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