26&27

For our purposes in this class, what types of entities is FASB primarily aimed at providing rules? a. For Profit Entities b. State and Local Governments c. All of the choices d. US Government e. Not-For-Profits Using the proper name of the funds, what is the best fund to report the following: The governmental entity makes a $1,000,000 payment to their general contractor for partial payment on a bullding under construction. (in answering this question do not use the word fund, funde, trust or trusts - If you do the question will be read as wrong. However, if the fund has more than one name you must use both and you must be accurate\}