Answer:
Revenues that are legally restricted for expenditure on specified operating purposes should be accounted for in special revenue funds including
- Pension trust fund revenues
- Endowment where the investment earnings are to be used for public purposes.
- Accumulation of resources for payment of general long-term debt principal and interest.
Explanation:
There are two main reasons for restricting funds legally. It is either for use to accomplish a specific program or to be appropriated at a time in the future.
Pensions are designated to be paid out to the recipients in the future. To achieve these, a certain percentage of their earnings is legally restricted and accounted for in Pension Trust Fund revenues.
Endowment funds is predominant in NGOs where the investment earnings are to be used for public purposes.
Relevant financial institutions can work mutually with a company to accumulate resources for payment of general long-term debt principal and interest.
Answer:
Purchase discounts is a contra revenue account. Revenue accounts carry a natural credit balance; purchase discounts has a debit balance as a contra account. On the income statement, purchase discounts goes just below the sales revenue account.
Answer: d. Susceptibility to interpersonal influence.
Explanation:
Interpersonal influence is the type of social influence that is exerted by a group to achieve conformity, the difference being frowned upon or discouraged.
Social influence can be seen as a form of peer influence, where the person is urged to be one of the groups and to adapt to the social paradigms approved by the group.
A person susceptible to social influence succumbs to the pressure of the group and leaving their individuality aside, and follows the paradigms that the group dictates. <em>This is the case of Harriett, who adopts the lifestyle of the social class of her new neighborhood.</em>
<em>I hope this information can help you.</em>
Answer:
C. Accrued expense
Explanation:
Because the expense has already been incurred, but not yet paid, it is an accrued expense.
