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Which funds would most appropriately use the current financial resources measurement focus and modified accrual basis of accounting in their fund financial statements? Governmental Proprietary
Which funds would most appropriately use the current financial resources measurement focus and modified accrual basis of accounting in their fund financial statements? Governmental Proprietary Fiduciary. 1. Yes No Yes 2. No Yes Yes 3. Yes No No 4. Yes Yes Yes O 3 04 O1 O 2 Question 7 2 pts In April of Year 5, Grady Memorial Hospital purchased medicines from Johnson & Johnson Pharmaceutical Co. at a cost of $5,000. However J&J notified Grady Memorial that the invoice was being canceled and that the medicines were being donated to Grady Memorial. Grady Memorial should record this donation of medicines as: O A $5,000 credit to nonoperating expenses A memo only A $5,000 credit to operating revenue O A $5,000 credit to operating expenses
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