Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Question: The county of Edvic is facing a General Fund deficit in 2013 because actual tax collections are lagging behind estimates. At a staff meeting, the village manager tells the chief of public works that the chief will need to terminate one employee in April to help keep the budget in balance. The chief of public works says: "I have a better idea. You know that state grant the finance commissioner put into a Special Revenue Fund because it could be used only for planting trees along the highways? Why don't I just tell one of my boys to fill out his time sheets so that the time he spends changing street light bulbs is charged against the Special Revenue Fund. Neither our finance commissioner nor the state will ever know the difference." How should the village manager respond?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92513532
  • Price:- $15

Priced at Now at $15, Verified Solution

Have any Question?


Related Questions in Accounting Basics

Question - a person wants to purchase a new car in 8 years

Question - A person wants to purchase a new car in 8 years and expect the car to cost $63,000. bank offers a plan with a guaranteed APR of 4.5 %. If you make regular monthly deposits. How much should you deposit each mon ...

Question - lois braggs owns a small restaurant in boston ms

Question - Lois Braggs owns a small restaurant in Boston. Ms. Bragg provided her accountant with the following summary information regarding expectations for the month of June. The balance in the cash account as of May 3 ...

Question - hardcastle ltd had sales of 3 000 000 and net

Question - Hardcastle Ltd. had sales of $3 000 000 and net operating income of $900 000. Operating assets during the year averaged $1 500 000. The manager of Hardcastle is considering the purchase of a new machine which ...

Question - sharp tables produces go carts designed to a

Question - Sharp tables produces go carts designed to a customers specification with the customers logo. Job 65 consists of producing 40 carts for race around for a new store opening. Overhead is applied on the basis of ...

Question - 1 what is gross profit margin and what is net

Question - 1. What is gross profit margin and what is net profit margin? What are in the between the two? Give a few examples to explain the items between these margins, and show how to analyze these items for improvemen ...

Question it is common for social workers to be presented

Question: It is common for social workers to be presented with a crisis situation brought forth by clients, families, communities, and/or organizations. The ultimate goal is to restore the client to equilibrium. The five ...

Question - fundamentals of revenue recognition - respond to

Question - Fundamentals of Revenue Recognition - Respond to the questions related to the following statements. 1. A wholly unperformed contract is one in which the company has neither transferred the promised goods or se ...

Question - jinhee purchased a ticket to a concert to raise

Question - Jinhee purchased a ticket to a concert to raise money for the local university. The ticket cost $535, but the normal cost of a ticket to this concert is $145. How much is deductible as a charitable contributio ...

Question - the company uses pre-numbered purchase orders

Question - The company uses pre-numbered purchase orders. Only the Purchase Manager is able to use and authorize the purchase orders. Once the purchase order has been sent to a supplier, a copy is given to the accounting ...

Question assignmen t descriptionclassroom discussion

Question: Assignmen t Description Classroom discussion requires the active participation of students and the instructor to create robust interaction and dialogue. Every student is expected to engage in dialogue by partic ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As