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Oksana_A [137]
3 years ago
14

The Dillard Park Fund is used to account for a private donation by Mr. and Mrs. Bud Dillard. When making the donation, the Dilla

rd's stipulated that only the income from this fund could be used for the operations of Dillard Park, a city owned park. The Dillard Park Fund is a: Group of answer choices General Fund Permanent Fund Private-Purpose Trust Fund Special Revenue Fund
Business
1 answer:
KonstantinChe [14]3 years ago
8 0

Answer:

permanent fund                                                              

Explanation:

In simple words, A permanent funds relates to the one of the five categories of federal funds defined by GAAP throughout the United States. It is listed as a genuine investment fund limited to administrations as well as voluntary organizations.

Often, even if the funding is being used to disclose the position of a limited financial assets will a fund be known as just a permanent Fund. The capital is constrained in the context that certain capital profits are included, but not the principle.

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The omission of the adjusting entry to record depreciation expense will result in an
Gemiola [76]

Answer:

B.overstatement of assets and an overstatement of owners' equity.

Explanation:

To recognize depreciation expense,the entries required are

Debit depreciation expense

Credit Accumulated depreciation

The accumulated depreciation is a credit balance in the fixed asset account. Depreciation is also an expense that reduces net income and thus reduces the owners equity.

Hence an mission of the adjusting entry to record depreciation expense will result in an overstatement of assets and an overstatement of owners' equity.

6 0
3 years ago
Out of a list of the values 12, 7, 3, 5, 8, and 2, which result would the MIN function return?
sertanlavr [38]

Answer:

2

Explanation:

It’s just right, trust

3 0
3 years ago
Read 2 more answers
The decision by GE to do business, through subsidiaries, with Iran would have been made at what organizational level? a. First-l
bekas [8.4K]

Answer:

D. Top management

Explanation:

The top management of a company has the duty to oversee the entire company's operation. They are also the one that make a decision which will heavily influence the company's position in the future.

A decision for company to do business with subsidiaries with another country possess a lot of risk. It tends to require a lot of investment but with equally higher return.  Decision with this magnitude will most likely fall to the hands of the top managers in the company.

3 0
2 years ago
he auditors have some uncertainties, but these uncertainties are not so material that they cannot form an opinion on the fairnes
ddd [48]

Answer:

D. The auditors cannot form an opinion on the fairness of presentation of the financial statements as a whole.

Explanation:

The issue of a disclaimer of opinion normally represent that the auditor could not able to form the opinion on the fairness of the financial statements that shows the financial position and the condition of the company.

He is not able to give his opinion for the company financial statements

So, the last option would be correct

And, the rest of the options would be incorrect

6 0
3 years ago
Geoff purchased a life annuity for $4,800 that will provide him $100 monthly payments for as long as he lives. Based on IRS tabl
Brilliant_brown [7]

Answer:

B. $80

Explanation:

The annuity exclusion ratio is ($4,800/($100*240))= 20% return of capital per payment. Hence, $80 of the $100 monthly payment is include in gross income

8 0
3 years ago
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