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State whether these statements are true or false. For any false statement explain why it is false.1. In the fund financial statements the General Fund should always be reported as a major fund.2. In the fund financial statements a government may elect to report any governmental or Enterprise Fund as major if the government considers financial information on that fund particularly important to statement users.3. Notes to the financial statements are a form of required supplementary information.4. When the financial data of a component unit are blended with the financial data of a primary government the blended data are presented in both the fund financial statements and the government wide statements.5. In the fund financial statements Enterprise Funds must be presented using the current financial resources measurement focus and the modified accrual basis of accounting.6. Fiduciary funds are not reported in the fund financial statements but instead are aggregated and reported in a single column in the government wide financial statements.7. A state government that receives a grant from the federal government to construct a firehouse should report the resource inflow as revenues in the Capital Projects Fund.8. Net assets are reported as restricted in proprietary funds only if the restrictions are imposed by the entity constitution or statute.
on december 312010 dow steel corporation had 600000 shares of common stock and 300000 shares of 8 noncumulative
What is the difference between equity value and enterprise value? How and why should any entrepreneur consider a systematic liquidation of a business?
Describe how the product will do in this new environment.
david winner is to retire from the partnership of winner and associates as of the end of the current fiscal year.
triway packaging corporation manufactures and sells a wide variety of packaging products. performance reports are
solve the problem. the value v of a honda civic dx sedan that is x years old is given byvx186300.90xa what is the value
Is the probability of having a graduate degree independent of the grade the employee is in? Construct a 95% confidence interval on the mean service for each gender? Do they intersect?
At the end of the current year, Accounts Receivable has a balanced of $800,000; Allowance for Doubtful accounts has a debit balance if $2000; and Net Sales for the year total $2,200,000. Bad debt expense is estimated at 1/2 of 1% of net sales. Pre..
Hill and Billy plan to marry either immediately before or immediately after year-end. Hill's taxable income for 2011 is $89,000 and Billy's is $85,000 before their exemptions and deductions.
american movieplex a large movie theater chain leases most of its theater facilities. in conjunction with recent
Sable sells a passive activity with an adjusted basis of $245,000 for $305,000. Suspended losses attributable to this property total $45,000. The total gain and the taxable gain are:
Clinton and Dole had capital balances of $120,000 and $180,000 respectively at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $18,000 and $20,000 respectively,
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