Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

تمرين 65

A city issues a 60-day tax anticipation note to fund operations.What recording should it make
a. The liability should be reported in the government-wide financial statements; an other financing source should be shown in the fund financial statements.
b. A liability should be reported in the government-wide financial statements and in the fund financial statements.
c. An other financing source should be shown in the government-wide financial statements and in the fund financial statements.
d. An other financing source should be shown in the government-wide financial statements; a liability is reported in the fund financial statements.