True or False: Fund accounting is used by investor-owned (for-profit) businesses to differentiate between operating funds...
What are the similarities and differences between equity capital in investor-owned firms and fund capital in not-for-profit firms? Describe the primary means by which investor-owned firms raise new equity capital.
True or false (encircle as appropriate). 1. 2,4-Dinitrophenylhydrazine can differentiate between aldehydes and ketones. True / False 2. Nitrous acid test is used to confirm an amino function in a simple organic compound. True / False 3. Hydroxamate test is used for esters. True / False 4. Silver mirror test differentiates between an aldehyde and a ketone. True / False 5. Secondary aromatic amines react with nitrous acid to produce nitrogen gas. True / False
QUESTION 7 Depreciation expense is a use of funds True False QUESTION 8 A firm's operating profit is equal to its EBIT True False QUESTION 9 Accrulas for a company are payables for serivces already rendered True False
The General Fund used electricity provided by the city-owned electric utility (an enterprise fund of the city). The governmental activities journal entry to record the transaction will include: A. A debit to Expenses. B. A debit to Expenditures. C. A debit to Internal Balances. D. No entry would be recorded since the transaction is between two funds of the same government.
The difference between economic profit and accounting profit is that economic profit is calculated based on both implicit and explicit costs whereas accounting profit is calculated based on explicit costs only. True False
17. Buying stock on margin lowers the overall risk for the investor. A) True B) False 18. The P/E ratio presents the relationship between a firm's profits divided by their earnings per share. A) True B) False 19. Accountants truly represent the financial managers of a business. A) True B) False 20. A budget's primary purpose is to provide managers with a financial summary of the past operations of a firm. A) True B) False 21. As a financíal manager...
Indicate whether each statement is true or false by selecting the appropriate circle. Statement True False 1. Capital projects funds account for proceeds of specific revenue sources that are legally required to be spent for specified purposes. 2. Utility bill payments are recognized in a proprietary fund. 3. The economic resources measurement focus is used to report the government-wide financial statements. 4. Capital assets and long-term liabilities specifically related to proprietary funds activities are accounted for using the modified accrual...
Indicate whether each statement is true or false by selecting the appropriate circle. Statement True False 1. Capital projects funds account for proceeds of specific revenue sources that are legally required to be spent for specified purposes. 2. Utility bill payments are recognized in a proprietary fund. 3. The economic resources measurement focus is used to report the government-wide financial statements. 4. Capital assets and long-term liabilities specifically related to proprietary funds activities are accounted for using the modified accrual...
State whether the following are true or false. For the false items, explain why they are false. a. Enterprise Funds are used only when all services are provided to non-governmental entities, and Internal Service Funds are used only when all services are provided to governmental agencies that are a part of the reporting government. b. Enterprise Funds use the economic resources measurement focus and full accrual basis of accounting only when they want to compute the costs of...
true or false? finance generally includes borrowing and investing funds and analyzing accounting information to evaluate past decisions and make sound decisions that will affect the future of the organization