Acc/460 Exercise 2-1
This is for Government and Not -for-Profit Accounting
You will need to check the first half 1-10 as some of them were wrong and the instructor did not provide the correct answers.
Textbook Exercises Chapter 2,4,5,6
ACC/460
Exercise 2-1 1. J 2. G 3. A 4. H 5. A 6. B 7. A 8. I 9. A 10. F
Questions 1-10: 1. Distinguish between funds as the term is used in governmental as contrasted with business accounting.
When distinguishing between governmental accounting and business accounting, in governmental accounting a fund is a fiscal and accounting entity that has a self-balancing set of accounts that is used to account for the resources and claims of an organization. When referring to business
You will need to check the first half 1-10 as some of them were wrong and the instructor did not provide the correct answers.
Textbook Exercises Chapter 2,4,5,6
ACC/460
Exercise 2-1 1. J 2. G 3. A 4. H 5. A 6. B 7. A 8. I 9. A 10. F
Questions 1-10: 1. Distinguish between funds as the term is used in governmental as contrasted with business accounting.
When distinguishing between governmental accounting and business accounting, in governmental accounting a fund is a fiscal and accounting entity that has a self-balancing set of accounts that is used to account for the resources and claims of an organization. When referring to business