Investments of permanent funds should be reported at fair value, if determinable, and unrealized gains reported along with realized gains as "Investment Income-Net Increase in Fair Value of Investments."
Correct Answer:
Verified
Q27: A non-expendable trust which benefits a government
Q28: When a government receives a gift that
Q29: Capital project funds exist for the duration
Q30: When bonds are sold to construct a
Q31: Capital assets are not reported in governmental
Q33: Interest revenues should be accrued at year-end
Q34: Capital outlay expenditures of capital projects funds
Q35: Private-purpose Trust Funds benefit individuals, private organizations,
Q36: Debt service funds are used to account
Q37: If a government issues new debt, and
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents