Jerry Witherspoon lived in the City of Columbus, Ohio. He studied in the Miami University and is doing his internship with David James & Partners, an accounting firm that specializes in Governmental and NonProfit Accounting. David James, the Managing Partner of the firm has given Jerry a few tasks to complete as follows:

(a) To write an explanation of what are the four types of nonexchange revenues.

(b) To write an explanation about the definition, uses and purpose of Debt Service Funds.

(c) To write an explanation about the definition of Permanent Funds, its example and its difference with Private Purpose Trust Fund.

Answer rating: 100% (QA)

1To write an explanation of what are the four types of nonexchange revenues Nonexchange revenues are funds that do not require an exchange of equal value A successful exchange transaction must meet sp... View the full answer