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Vouchers payable denote: a. A future liability estimated when order is made b. Amount due to government from user charges c. A liability incurred when goods/services are received d. Amount payable by government on long term debts   Question 2   Question text Which of the following is not an example of the function of an Agency Fund? a. Collection of property tax by one government unit for the other b. All the options listed c. Payment of interest and principle on long-term debt d. Collection of local government sales taxes by the state government

Vouchers payable denote: a. A future liability estimated when order is made b. Amount due to government from user charges c. A liability incurred when goods/services are received d. Amount payable by government on long term debts   Question 2   Question text Which of the following is not an example of the function of an Agency Fund? a. Collection of property tax by one government unit for the other b. All the options listed c. Payment of interest and principle on long-term debt d. Collection of local government sales taxes by the state government

FINANCIAL ACCOUNTING
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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Vouchers payable denote:
a.
A future liability estimated when order is made
b.
Amount due to government from user charges
c.
A liability incurred when goods/services are received
d.
Amount payable by government on long term debts
 

Question 2

 

Question text

Which of the following is not an example of the function of an Agency Fund?
a.
Collection of property tax by one government unit for the other
b.
All the options listed
c.
Payment of interest and principle on long-term debt
d.
Collection of local government sales taxes by the state government
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