What is true regarding local government budgets? (Select all that apply.) A. Revenue comes from intergovernmental payments. B. Large portions of local budgets support elementary education. C. Expenditures include police and fire departments. D. Localities fund social security benefits for retired residents.

Which of the following is considered part of a country’s infrastructure?

In its first year of operations, sunland company recognized $30,000 in service revenue, $8,100 of which was on account and still outstanding at year-end. the remaining $21,900 was received in cash from customers. the company incurred operating expenses of $18,600. of these expenses, $12,880 were paid in cash; $5,720 was still owed on account at year-end. in addition, sunland prepaid $3,270 for insurance coverage that would not be used until the second year of operations. (a) calculate the first year's net earnings under the cash basis of accounting, and the first year's net earnings under the accrual basis of accounting.

Describe at least one way in which a line of credit is different from a loan.