Examlex
A city receives notice of a $150,000 grant from the state to purchase vans to transport physically challenged individuals.Although the city did not receive any of the grant funds during the current year, the city purchased one bus for $65,000 and issues a purchase order for another van for $60,000.The grant revenue that the city should recognize in the government-wide financial statements in the current year is
Product
An item or substance that is manufactured or refined for sale.
Multiplying
The mathematical operation of increasing one number by the value of another, resulting in a total that is the product of the two numbers.
Kilo-
A prefix in the metric system representing one thousand (1000) of the unit it precedes.
Decimal
Numbers that are expressed as a fraction of a part using 10 as its base number; it also refers to the period used to separate a whole number from a fraction, as in 10.2, otherwise read as “ten and two-tenths.”
Q4: In which fund type would a governmental
Q8: Advertising expense would be an administrative expense.
Q19: Which of the following sections is NOT
Q20: The Financial Statements of a Proprietary
Q22: In both the fund statements and the
Q25: The County created a legally separate County
Q29: Campbell County uses the consumption method to
Q31: For a business combination, the purchase method
Q36: In analysis of income, for purposes of
Q51: The going concern assumption does not influence