Distinguish among appropriation, expenditures, encounters, encumbrance, and expenses

Q: Distinguish between Expenditure and Encumbrances

A: Expenditure and Encumbrances are two terms used in Accounting most frequently.

Q: Distinguish between program service expenses and supporting service expenses.

A: A nonprofit organization’s expenses can be classified into two types, they are expenses for program…

Q: narginal revenue produc

A: A bag of fertilizer has marginal revenue of product $ 100 and its current price is $ 150

Q: Define the term accrued expense.

A:

Q: Applying a measurement basis to an asset or liability creates a measure for that asset or liability…

A: The purpose of measurement basis is to represent faithfully the values of assets and liabilities so…

Q: hat does the term "miscellaneous expenditure" mean?

A: Miscellaneous Expenditure: These are the expenditure that are allowances for government services,…

Q: WHAT IS THE TOTAL GENERAL AND ADMINISTRAVE EXPENSES?

A: The administration expenses are related to funciton of business but not directly or indirectly…

Q: Define Miscellaneous expense.

A: Step 1 Expense is the amount incurred by the organization to generate revenue. It is shown in the…

Q: Choice Are revenue expenditures.

A: Extraordinary repairs are repairs that are of high cost and increase the useful life of the asset…

Q: Distinguish between tangible and intangible benefits.

A:

Q: Explain the current environment regarding revenue recognition.

A:

Q: Prepare Appropriations, Encumbrances, Expenditure and Fund Balance Ledger from the following…

A: When an appropriation is made, it is entered in the appropriation ledger. When a purchase order is…

Q: Define Donated Assets.

A: Donated assets are the assets donated to governmental or non profit entity without any consideration…

Q: Describe the revenue and collection cycle,including typical source documents.

A: Introduction: Income statement: Income statement is the financial statement of the company that is…

Q: Define the term unearned revenue.

A: Deferred revenues: Deferred revenue is a liability to render service or to deliver products in…

Q: For each of the following expenditures, indicate the type of account (asset or expense) in which the…

A: An asset represents any source of future economic benefit to the firm that goes beyond one year,…

Q: Define Expense recognition.

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Define the term revenue recognition.

A: Accounting principle: These are the guidelines which are to be applied while preparing the…

Q: Define average accumulated expenditures and explain how the amount is computed.

A:

Q: Explain the purpose and construction of a statement of functional expenses.

A: Financial Statement:   It refers to the financial records of an organization that reports their…

Q: Which one of the following equations will yield the available balance in an expenditure subsidiary…

A: GASB: The GASB is the board that provides the guideline to the governmental units about proper…

Q: Describe the steps of Special Issues in Revenue Recognition.

A: Revenue recognition refers to principle of accounting which specifies revenue conditions.

Q: Distinguish betwenn program service expenses and supporting service expenses.

A: Expenditures related to the public services offered by the NFP are referred to as program service…

Q: Distinguish between Service Projects and Revenue Projects?

A: Service Projects: Service projects are those projects which are carried out for the welfare of…

Q: Appropriation account

A: Appropriation accounts keep aside money/ profits for various specific purposes. For example dividend…

Q: Identify and distinguish between the physical and financial components of the expenditure cycle.

A: The whole expenditure cycle divided into monetary and non-monetary transaction .the financial…

Q: on remeasurement nvestment is

A: Given as, To find the gain on the investment as,

Q: give practical examples.

A: Appropriation account: Appropriation account is a account prepared for the partnership firm and…

Q: Define Accretion expense.

A: Accretion expense is incurred due to the effluxion of time which is calculated on the basis of…

Q: Describe the accounting and amortization of prior service costs.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: What are (a) pass-through expenses, (b) recoverable expenses, and (c) common area expenses? Give…

A: a) Pass through expense: This is an expense which the customer pays directly to a third party or…

Q: Explain Interests, Encumbrances, and Easements?

A: Interest refers to the additional amount paid by a borrower or received by an investor apart from…

Q: Define Revenue

A: The revenue is reported on the income statement of the company, and it is used to derive the net…

Q: Define the term service revenue.

A: Revenues: Revenues are earnings from operations of a business. The operating activities are sale of…

Q: appropriation account?

A: Appropriation represents the profit distribution of the company for shareholders and reserves.

Q: Which one of the following is a revenue expenditure?

A: Revenue expenditure: It refers to the amount spent on normal maintenance and repairs of fixed assets…

Q: Distinguish between costs that are capitalized and costs that are expensed in the period inwhich…

A: A business cost includes all costs such as capitalized cost, the variable cost, direct or indirect…