Financial statements prepared by a voluntary health and welfare nongovernmental not-for-profit organization must report expenses by the
Question:
Financial statements prepared by a voluntary health and welfare nongovernmental not-for-profit organization must report expenses by the following classification(s):
Functional Natural
A. YES YES ,
B. Yes No
C. No Yes
D. No No
explain this!
The city of Cobb has two trust funds for the benefit of the city's library, trust fund A and trust fund B. Only the earnings from trust fund A can be expended and both the principal and interest from trust fund B can be expended. How should the city of Cobb report each trust fund? Trust fund A Trust fund B
A. Permanent Permanent
B. Permanent Special revenue
C. Special revenue Permanent
D. Special revenue Special revenue
explain and why!
Advanced Accounting
ISBN: 9780132568968
11th Edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith