__________ Are Creatures of the State and Have Only as Much

question 40

Multiple Choice

__________ are creatures of the state and have only as much power as the Texas Constitution and Texas legislature grant them.

• A)Counties
• B)Special districts
• C)School districts
• D)All of these choices are true.

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Definitions:

Equipment Sold

Refers to assets that were once part of a company’s operational resources but have been disposed of in exchange for cash or other assets.

Accounts Receivable

Amounts owed to a company by customers for goods or services that have been delivered or used but not yet paid for.

Accrual Basis

An accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when cash transactions occur.

Cash Basis

An accounting method where revenue is recorded when cash is received, and expenses are recorded when cash is paid out, without regard to when the transactions actually occur.