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(Multiple Choice)1. What are the components of the net position section of a governmental hospital balance sheet?a. Unrestricted; temporarily restricted permanently restrictedb. Assets limited as to use assets unlimited as to usec. Net investment in capital assets restricted unrestrictedd. Restricted; unrestricted2. A county hospital receives grants from higher level governments that must be used to construct and equip a special trauma unit. How should the hospital report the grants in its financial statements?a. As nonoperating revenuesb. After nonoperating revenues ( expenses) to arrive at total change in net positionc. As a direct addition to net investment in capital assetsd. As an item of extraordinary or special revenue3. A county hospital receives $ 1 million from the county, General Fund to help cover the hospital, annual operating deficit. How should the hospital report that receipt of cash?a. As operating revenuesb. As nonoperating revenuesc. After nonoperating revenues ( expenses) to arrive at total change in net positiond. As a direct addition to unrestricted net position4. A county hospital receives a grant of $ 250,000 from the State Health Department, which specifies that the grant may be used for any purpose the trustees wish, provided it is used at the rate of $ 50,000 a year for the next 5 years, starting the following year. How should the hospital report the gift in its financial statements in the year the cash is received?a. As an advanceb. As revenue in the amount of $ 250,000c. As revenue in the amount of $ 250,000, discounted at the government, borrowing rate over the 5 year periodd. As a direct addition to unrestricted net position5. How is interest on long- term bonds issued by a county hospital generally reported?a. As operating expensesb. As nonoperating expensesc. As a separate item after nonoperating revenues ( expenses) to arrive at total change in net positiond. As a direct reduction of beginning net position
jinglegym a best-selling toy has a selling price of 15. if the contribution margin ratio is 40 and if the fixed costs
aero inc. had the following balance sheet at december 31 2011.aero inc.balance sheetdecember 31 2011cash 23210
Discuss the key criteria for the operation of an effective corporate whistleblower hotline. Be sure to highlight potential pitfalls that should be avoided and reference professional codes, legislation and academic literature as appropriate.
alfred e. old and beulah a. crane each age 42 married on september 7 2011. alfred and beulah will file a joint return
Employee theft is a major problem in the U.S. retail industry
An auditor observes inventory held by the client and notes that some of the inventory appears to be very old but still in reasonable condition for sale. Which of the following conclusions is justified by the audit procedure?
What is the amount that Marcus must include in gross income for the current year?
In an Advertiser's records, a newspaper ad submitted and publisdhed this week with the agreement to pay for it next week would:
1.a deposit of 350 earns the following interest rates a 8 percent in the first year b 7 percent in the second year and
tyler smith has worked in an upholstery shop for 10 years. last year tylers wages were 20000. lately tyler has been
A consulting engineering firm is considering two models of SUVs for the company principals. A GM model will have a first cost of $26,000, an operating cost of $2000, and a salvage value of $12,000 after 3 years.
A company, using the periodic inventory system, has merchandise inventory costing $175 on hand at the beginning of the period. During the period, merchandise costing $635 is purchased. At year-end, merchandise inventory costing $160 is on hand. Th..
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