When the amount of revenue collected in advance decreases during an accounting period: (a) accrual-basis revenues exceed cash collections from customers.(b) accrual-basis net income exceeds cash-basis net income.(c) accrual-basis revenues are less than cash collections from customers.(d) may exceed, equal or be less than cash payments to suppliers.

Salvador county issued $25 million of 5% demand bonds for construction of a county maintenance building. the county has no take-out agreement related to the bonds. it estimates that 20% of the bonds would be demanded (called) by the buyers if interest rates increased at least 1%. at year-end rates on comparable debt were 7%. how should these demand bonds be reported in the government-wide financial statements at year-end? a) $25 million in the long-term liability section of the governmental activities column. b) $5 million in the current liability section of the governmental activities column and $20 million in the long-term liabilities section of the governmental activities column. c) $5 million in the governmental activities column and $20 million would be reported in the schedule of changes in long-term debt obligations. d) $25 million in the current liability section of the governmental activities column

Personal financial planning is the process of creating and achieving financial goals? true or false

Match the different financial tasks to their corresponding financial life cycle phases wealth protection, wealth accumulation and wealth distribution