Why is the reserved fund or reserved cash to be added as part of the possible loss in the preparation of schedule of safe payment?

Q: Explain Quitclaim Deed?

A: Quitclaim Deed: Quitclaim Deed is also called as non-warranty deed. A quitclaim deed is considered…

Q: Outline the measures used to describe possible loss accurately?

A: The success of a business depends on how accurately they predict future profit or loss arriving…

Q: What are the measures used to describe possible loss accurately?

A: Furthermore, you have the option of paying for your item in equal monthly instalments, guaranteeing…

Q: accounts o

A: Modified accrual basis of accouting is generally used by the government agency or say government. it…

Q: What disclosures are required for remote likelihood of losses?

A: Likelihood of losses means chance of occuring loss in some future events of the business. Likelihood…

Q: or each of the following scenarios, select whether an asset has been impaired (Y for yes and at…

A: Impairment means decrease in value of asset as compared to book value. Fair value needs to be seen…

Q: What is the purpose of emergency fund?

A: Emergency Fund: An emergency fund is a vital corpus that must be set up in case of unforeseen…

Q: Which of the following is not an insurance management tool? Group of answer choices deductibles.…

A: Insurance management: Insurance Management is the administration of all insurance requirements, both…

Q: Explain the difference between asset allocation funds and lifecycle funds

A: Asset allocation Funds make investments in different asset classes based on the efficient frontier…

Q: A credit to _____ is necessary upon the receipt of property assessments when the special assessment…

A: Journal entry be If special assessment receivables are recorded in the accounts of a custodial fund…

Q: Which one of the following will be recorded when the encumbered purchase order is executed whole or…

A: Encumbrance is a term that is used to define the reservation of budget funds to be set aside in…

Q: What is the electronic fund's transfer (EFT) system?

A: Todays generation is introduced to digital payments and any business whether it be large or small…

Q: When intially recognizing the cash surrender value, what is the reason behind the allocation between…

A: Matching Principle Concept-:Matching precept is the accounting belief that compels that the…

Q: Minimum amortization of the actuarial loss?

A: INTRODUCTION: Amortization is the process of progressively applying an asset's cost to expenditure…

Q: Which of the following will a Notice of Donation is needed? Donated P90,000 worth of medical…

A: The correct answer for the above mentioned question I given in the following steps for your…

Q: Does the recognition of depreciation in the accounts provide a special cash fund for the replacement…

A: Depreciation is a non-cash outlay that the company has to report in the books for the purpose of…

Q: State the kinds of note disclosures that need to be made to help users understand the nature of…

A: Question is answered based on Government Accounting. A general fund is a primary fund used by a…

Q: What are the measures used to describe possible loss accurately?

A: Risk is the possibility of loss on the investment and it is essential for investors to identify risk…

Q: When initially recognizing the cash surrender value, what is the reason behind the allocation…

A: According to this principle of accounting, the revenues and expenses stated in the income statement…

Q: Why are payments received from customers in advance, for either services to be performed and/or for…

A: Advance payment received from the customer there are two reasons which are mentioned are as follows:…

Q: how to calculate deprieation

A: When fixed asset is purchased, it is recorded in books of accounts at it original or acquisition /…

Q: General Fund expenditures for uncollectible accounts receivable should be reported in the period…

A: Aging of accounts receivable is basically grouping the accounts receivables/debtor according to the…

Q: what is the difference between imprest fund system and fluctuating fund system?

A: Petty cash funds are funds established for the purpose of small petty expenses in the business.…

Q: Which of the following serve as the basis for recording appropriate expenses each time the fund is…

A: Petty cash book is best document for recording appropriate expenses each time the fund is…

Q: Explain the difference between monetary and nonmonetary assets and liabilities.

A:

Q: What disclosure is required for a probable loss contingency?

A: Contingent liability: This is an uncertain obligation which might be incurred on a future date as a…

Q: What are types of activities are reported in Custodial Funds?

A: Custodial funds Custodial funds are classified as fiduciary funds under GASB rules when they are not…