Why is it important to distinguish between internal and external assets limited as to use? (Define these terms in your answer.)
Answer to relevant QuestionsList the principal classifications of hospital revenues.(a) What is a term endowment? (b) How should a hospital account for the receipt of a term endowment? (c) How should a hospital account for the resources of a term endowment when the term of the endowment expires?A government hospital received two gifts in 20X5. The first gift, for $3,000,000, was restricted to a specific operating purpose. Costs incurred during the year that qualified for use of the resources of the gift amounted to ...Explain the meaning of the following terms in federal accounting:a. Apportionmentb. Allotmentc. Obligationd. Commitmente. Expended AppropriationsMultiple Choice QuestionsIdentify the best answer for each of the following:1. Formal notification that Congress has enacted an appropriation for an agency requires recognition by the agency ina. Budgetary accounts only.b. ...
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