The City of Kastle purchased a vehicle for the parks department. If the operations of the parks department are financed by generalrevenues, an asset would be recorded in which journal(s)?GeneralGovernmentalFundActivitiesA)B)YesNoNoNoNoYesYesYesMultiple ChoiceChoice A

As the asset is finance by general revenue hence it is part of general fund. Governmental activities…

The City of Kastle purchased a vehicle for the parks department. If the operations of the parks department are financed by gens revenues, an asset would be recorded in which journal(s)? General Governmental Fund Activities A) Yes No B) C) No No No Yes Yes Yes Multinle Choice

The City of Kastle purchased a vehicle for the parks department. If the operations of the parks department are financed by gens revenues, an asset would be recorded in which journal(s)? General Governmental Fund Activities A) Yes No B) C) No No No Yes Yes Yes Multinle Choice

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The City of Kastle purchased a vehicle for the parks department. If the operations of the parks department are financed by general
revenues, an asset would be recorded in which journal(s)?
General
Governmental
Fund
Activities
A)
B)
Yes
No
No
No
No
Yes
Yes
Yes
Multiple Choice
Choice A

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