Which of the following statements is false? a. the purpose of fund accounting is to segregate those financial resources that have constraints or limitations on their use to demonstrate compliance with those limitations b. the general fund accounts for any resources not reported in one of the other funds c. every general purpose government may have more than one general fund d. transactions between funds of the same government are not assumed to be arm’s length in nature e. governmental fund financial statements are prepared using the current financial resource measurement focus.

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

Almost 80% of business owners are clueless about the competition, resulting in a) lost market share and customers. b) needless lawsuits. c) uninspired products. d) lack of perseverance

You are purchasing a bond that currently sold for $985.63. it has the time-to-maturity of 10 years and a coupon rate of 6%, paid semi-annually. the bond can be called for $1,020 in 3 years. what is the yield to maturity of this bond?