Please use the following choices to fill in the blanks below: a. modified accrual b. accrual c.

Question:

Please use the following choices to fill in the blanks below:
a. modified accrual
b. accrual
c. cash

1. Under the _______ method of accounting, expenses are recognized when assets are used up, while under the _______ method, expenditures are recognized when the asset is purchased.

2. The local government’s water enterprise fund utilizes the _______ method of accounting because it is run like a business.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Financial Management for Public, Health and Not-for-Profit Organizations

ISBN: 978-1506326849

5th edition

Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell

See More Books

Question Posted: Nov 08, 2022 01:59 AM

See More Questions

Use the following choices to fill in the blanks below: a. modified accrual b. accrual c. cash 1. Under the _______________ method of accounting, expenses are recognized when assets are used up, while...
Please use the following choices to fill in the blanks in the next two questions: a. unrestricted b. temporarily restricted c. permanently restricted 1. When Professor Chellman endows an annual...
Under accrual basis accounting, expenses are recognized when incurred, which means the activity giving rise to the expense has occurred. Assume the following transactions occurred in January: a. Dell...
Through the use of strategic alternatives, companies may compete in a marketplace, achieve its vision, or if no vision has been articulated, decide where it might go and what it might achieve....
1. Choose two ads, one that is significant and one that is not. Verify significance based on the average, standard error, and n, to make sure that they are correct. Is it appropriate to use one-sided...
What are some of the primary ways that the design of a DC and an FC may differ? Why?
An engineer prepares a report to evaluate a project using PW and IRR. Just before submitting the report, he spills coffee on it, making the first digit of the 2-digit IRR unreadable. The second digit...
The following procedures were recently installed by Pine Creek Company: a. Along with petty cash expense receipts for postage, office supplies, etc., several post-dated employee checks are in the...
Formulate your answer based on the information below. The intensity of care delivered dropped from a budgeted case mix of 0 . 9 0 to an actual case mix of 0 . 8 5 . What dollar effect did this have...
House Corporation has been operating profitably since its creation in 1960. At the beginning of 2016, House acquired a 70 percent ownership in Wilson Company. At the acquisition date, House prepared...
Marloweville, with 20,000 residents, is deciding how to finance the construction of a new municipal stadium that will enhance both recreation and tourism in the area. The construction cost of the...
Indicate whether each of the following actions would result in a change in unrestricted, temporarily restricted, or permanently restricted net assets this year: a. A donor gives the organization a...
Suppose that a and b have byte values 0x55 and 0x46, respectively. Fill in the following table indicating the byte values of the different C expressions: Expression a & b alb -al-b a & b Value...
Explain how objective versus subjective perspectives influence the decision-making process. What role do you think this variable has played in all the negotiations conducted and decisions made by...
Explain the role that weak signals play in helping managers to understand potential changes in their macro-environment.
What is strategy?
The effect of government policy on industry structure is too pervasive to consider government as a sixth competitive force. Discuss.
Explain the differences between monochronic and polychronic time systems. Use some examples to illustrate their differences and the role of time in intercultural communication.
Regarding breach of contract: a. Is breaching a contract comparable in moral culpability and legal effect to committing a tort or committing a crime? If not, how do these actions differ? b. Under...
During the year land was revalued and the surplus reported as Revaluation surplus; and an asset costing 80,000, written down to 38,000, was sold for 40,000. Identify the cost of any non-current...
In the current year, Jeanette, an individual in the 25% marginal tax bracket, recognized a $20,000 long-term capital gain. Also in the current year, Parrot Corporation, a C corporation in the 25%...
John (a sole proprietor) and Eagle Corporation (a C corporation) each recognize a long-term capital gain of $10,000 and a short-term capital loss of $18,000 on the sale of capital assets. Neither...
A taxpayer sells a warehouse for a recognized gain. Depreciation had been properly claimed on the property, based on the straight-line method over a 39-year recovery period. Will the same amount of...
Entered a 6 year loan on 1 march current year for the purchase of equipment that was required for income producing purpose. The borrowing cost assosiated with loan were. 750. What is deductible...
Includes a complete discussion of income from student tuition compared to the overall outlay of salary for instructors and what other variables should be considered when looking at funding for...
When the "market" act as a control mechanism, an investor can buy large number of shares to become a major shareholder and influence the decision makings of the CEO and the firm. What is this...

Please use the following choices to fill in the blanks below: a. modified accrual b. accrual c.

Question:

Step by Step Answer:

1 b accru...View the full answer

Financial Management for Public, Health and Not-for-Profit Organizations

Students also viewed these Business questions