Pass-through grants are accounted for
A. Only in Agency Funds.
B. By increasing or decreasing governmental fund assets and liabilities to reflect the agency relationship–no revenues are reported in the governmental fund.
C. As revenues and expenditures or expenses in the appropriate fund of the pass-through entity (primary recipient).
D. As other financing sources and other financing uses in the appropriate fund of the pass-through entity (primary recipient).
C
You might also like to view...
The allocation of the cost of an asset to expense over its useful life is called_________________ for tangible plant assets,_________________ for natural resources, and___________________ for intangible assets.
Fill in the blank(s) with the appropriate word(s).
The model stock approach and sales–productivity ratio relate to the allocation of selling and merchandise space, not personnel and customer space
Indicate whether the statement is true or false