ACC 460 Week 3 DQs
This file of ACC 460 Week 3 DQs consists of:
DQ1: What is the revenue recognition criteria used in government entities? What are some examples of government sources of revenue? How are these sources accounted for?
DQ2: What is an interfund transfer? Why would government entity transfer money from one fund to another? How are interfund transfers reported on a financial report?
DQ3: How can a government entity prepare government-wide statements using the fund statements? What is a governmental reporting entity?
DQ4: You are the sole contributor to a philanthropic foundation. You must specify whether investment gains should be expendable or nonexpendable. Present key arguments in favor and against permitting the gains to be expendable.