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Q15: In Proprietary type funds revenues are recognized in the period in which they are measurable and available which mean collected either within the current
Q15:
In Proprietary type funds revenues are recognized in the period in which they are measurable and available which mean collected either within the current period or soon enough thereafter to be used to pay the bills of the current period.
a.
TRUE
b.
FALSE
Q16:
A subsidiary account is a summary account whose balance is equal to the total of the individual balances of its control accounts.
a.
False
b.
True
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