F10 – Government-wide Financial Statements

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    Topic
  • #1897638
    shawnl112
    Spectator

    Lys City reports a compensated absences liability in its government-wide financial statements.
    The salary rate used to calculate the liability should normally be the rate in effect:
    a. When the compensated absences are to be paid
    b. When the compensated absences were earned or are to be paid, or at the balance sheet date, whichever results in the lowest amount
    c. At the balance sheet date
    d. When the unpaid compensated absences were earned

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  • #1897644
    felixsphone
    Participant

    Shawn, please stop starting new threads because there is a FAR thread for questions and concerns related to FAR.

    #1897659
    jeff
    Keymaster

    This is the 6th post started with this title, and I asked you to please not do it.

    Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

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