Multiple Choice
The City of Tipton received 100 acres of land located in the city limits as a gift from a local property owner for use as a city park.The debit for the entry to record this event in the General Fund should be to
A) General capital assets.
B) Land.
C) Expenditures.
D) No entry is required in General Fund.
Correct Answer:
Verified
Correct Answer:
Verified
Q17: Which of the following accounts would not
Q23: The county received a $10,000,000 endowment, the
Q34: Whenever a significant revenue source is restricted
Q40: When a fire truck purchased from General
Q72: As a general rule,revenues,expenditures,and expenses should be
Q73: Cartier Village's capital expenditures during the year
Q75: The City of Grand Marais' fiscal year
Q76: On July 1,the first day of its
Q81: Under current GASB standards the revenue from
Q82: Which of the following best describes the