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Subject Topic: Government related question (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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ga527940
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Posted: 19 Mar 2009 at 17:14 | IP Logged  

What is the answer of this question?

Which of the following would never be an appropriate treatment in a governmental fund for the proceeds of the sale of capital assets?

A) Revenue.
B) Other financing source.
C) Special item.
D) Each of the above may be appropriate given the circumstances.



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divyagovil1
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Posted: 19 Mar 2009 at 17:24 | IP Logged  

hmmm... this is making me think ! we have already expensed the purchase of capital asset in governmental fund in fund financial statement....

Now, what about the proceeds from the sale of capital assets?

would love to know the answer !



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FAR - 04/11/09 - 94
BEC - 05/30/09 - 86
REG - 08/29/09 - 95
AUD - 11/21/09 - 92
Ethics - 2011
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ga527940
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Posted: 19 Mar 2009 at 22:01 | IP Logged  

divyagovil1 wrote:

hmmm... this is making me think ! we have already expensed the purchase of capital asset in governmental fund in fund financial statement....


Now, what about the proceeds from the sale of capital assets?


would love to know the answer !



One of my friends asked me today, I don't know the answer, too. But it looks like need to know that.

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ga527940
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Posted: 22 Mar 2009 at 19:49 | IP Logged  

I select "A"

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BEC - 79
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divyagovil1
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Posted: 22 Mar 2009 at 20:51 | IP Logged  

I am still unsure with the answer.... What could be the reason? Thanks !

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Divya - CO State

Passed using Becker Review :
FAR - 04/11/09 - 94
BEC - 05/30/09 - 86
REG - 08/29/09 - 95
AUD - 11/21/09 - 92
Ethics - 2011
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