D. The amount of money a company makes from sales. This is revenue by definition.
Explanation:
Let us understand what a cost accounting and management accounting deals with and how both are related to business management.
Cost accounting:
- It deals with expenses and cost assessment in terms for producing or buying products.
- Gives an idea of how to measure profit.
- To determine the selling price and this would be challenging and profitable to the business and to the market.
Management accounting:
This helps the business people to make decisions, assess performance, and it is one step ahead of cost accounting.
Any business management people has to deal with money, take decision, assess the market, measure profit. So it is important to get a knowledge on Cost and management accounting.
$160,000 + $6,000 + $1,000 = $167,000. I don’t believe that the removal of the shed, filling and grading, or paving the parking lot would be considered part of the acquisition itself, so those values are there just to throw you off from the correct answer.
Answer:
D. $5,300,000 $0
Explanation
Debt service Fund General fund
Accumulated for principal payments $5,000,000 ( Debt service Fund)
Add Accumulated for interest payments $300,000( Debt service Fund)
Total $5,300,000
General fund
$0
$0
These restricted funds should be accounted for in the: Debt service fund General fund is $5,300,000 because the restricted funds of $5,000,000 accumulated for principal payments and $300,000 accumulated for interest payments should both be accounted for in the debt service fund.