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3 years ago

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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Jessica filled out her job application and is about to turn it in. In the “Position Applied for” box she wrote question marks, b

ankoles [38]

I think the correct answer from the choices listed above is option B. My suggestion for Jessica would be to ask the manager what positions are available and list a specific position. Hope this answers the question. Have a nice day.

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2 years ago

Read 2 more answers

Evergreen Corporation distributes land with a fair market value of $200,000 to its sole shareholder. Evergreen's tax basis in th

Lady_Fox [76]

Answer:

True

Explanation:

As for calculating the gain or loss on distribution of any asset, in any case the company shall consider the fair market value at the time of distribution, and accordingly, the gain or loss shall be:

Fair market value - Tax basis of such asset.

Here, in the given instance

Fair market value of land = $200,000

Tax basis of land = $50,000

Thus, gain on distribution = $200,000 - $50,000 = $150,000

This will not be different in any case, whether the earnings are positive or negative.

Therefore, the statement is True

4 0

2 years ago

Name four reasons for the success of the mongols as conquerors

vagabundo [1.1K]

Here are some of the reasons why the Mongols were so successful as conquerors:
1 they had Genghis Khan - he was a military genius who managed to train his army well and lead them into many battles
2 they were numerous - there were over 10,000 people in the Mongolian army
3 their military strategists were quite crafty - they relied on setting traps and tricking their enemies
4 they used cruelty and fear - everyone was afraid of the Mongols and what they would do to them if they caught them

7 0

2 years ago

A document which shows how much a customer has to pay, for what and by when

blondinia [14]

Answer:

A Bill

Explanation:

A bill is a request for payment. A bill is usually considered from the customer's standpoint. It's common to receive a bill without an invoice, as in a restaurant or retail store. A bill is usually given with the expectation of immediate payment.

5 0

2 years ago

A Plus Appliances sells dishwashers with a fourminusyear warranty. In 2019, sales revenue for dishwashers is $ 88 comma 000. Th

Ierofanga [76]

Answer:

Warranty Expense (Debit) $3,960

Warranty Liability (Credit) $3,960

Explanation:

The principle we apply while making entries for standard warranty is this:

The estimated amount of warranty expense, which a company founds as a percentage of its sales from historical claims and data, is taken as benchmark to accrue the warranty expense in the period when the sale is made (matching principle) .

In our question, 4.5% is the estimated warranty expense.

The company then sets off the estimated warranty expense (Debit)

(4.5% * $88,000 = $3,960)

with the warranty liability (Credit) to entertain any claims in future.

3 0

2 years ago