Explain how the budgetary fund balance account is used. What effect does recording the budget have on
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (7 reviews)
Many governments use a Budgetary Fund Balance accoun...View the full answer
Answered By
Rohail Amjad
Experienced Finance Guru have a full grip on various sectors, i.e Media, Insurance, Automobile, Rice and other Financial Services.
Have also served in Business Development Department as a Data Anlayst
4.70+
32+ Reviews
83+ Question Solved
Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
Question Posted:
Students also viewed these Accounting questions
-
Financial statements in the United States are reported in U. S. dollars. What assumption supports this statement?
-
What information is conveyed by the budgetary fund balance account?
-
Effect of recording errors on the balance sheet equation Siderurgica Venezolana Sivensa, S.A., is a Venezuelan steel and metalworking company. Assume that during a recent war. Sivensa recorded...
-
Sketch a graph to illustrate your idea of each of the following relationships. Be sure to label each axis appropriately. For each relationship, explain under what circumstances, if any, the curve...
-
Does the average distance that a neutron travels through fissionable material before escaping increase or decrease when two pieces of fissionable material are assembled into one piece? Does this...
-
In triangle ABC, AB(vector) = 4i + 3j, AC(vector) = 6i 4j. a. Find the angle between AB(vector) and i. b. Find the angle between AC(vector) and i. c. Hence find the size of BAC, in degrees, to one...
-
How do you think the supply of labour curve was affected when the UK left the EU?
-
On January 1, 2008, Trenten Systems, a U.S.-based company, purchased a controlling interest in Grant Management Consultants located in Zurich, Switzerland. The acquisition was treated as a purchase...
-
consider the following and state whether you would begin your research in state or federal sources. Can a client who filed bankruptcy five years ago file for bankruptcy again?
-
A differential amplifier has an open-loop voltage gain of 120 and a common input signal of 3.0 V to both terminals. An output signal of 24 mV results. Calculate the common-mode gain and the CMRR.
-
An interim budgetary comparison statement for a governmental fund is found in Illustration. (a) Should this statement be prepared on the units budgetary basis or on the GAAP basis? Why? (b) Why are...
-
Annual budgetary comparison statements for A Governmental Units General Fund are shown in Illustrations. (a) Why do the reported variances differ between these two statements? (b) Why does the GASB...
-
Determine the principal stresses and the absolute maximum shear stress. 10 ksi 8 ksi 20 ksi
-
i) A hydroelectric scheme with a rated capacity of 50 MW has a head of water of 85 m, and at full load passes a flow of 72 ms-. What is the full load efficiency of the scheme? ii) Give four potential...
-
Two identical positively charged particles are located on the x-axis. The first particle is located at x = -73.6 cm and has a net charge of q +39.9 nC. The second particle is located at x = +73.6cm...
-
Liz, Incorporated, produces and sells a single product. The product sells for $172 per unit and its variable expense is $77 per unit. The company's monthly fixed expense is $266,000. Required:...
-
What is the macroeconomic impact of an unexpected interest rate cut if prices are flexible? A . . Inflation will rise B . . Output will increase C . . Output will fall D . . Inflation will fall
-
Activity Cost Pool Labor-related Machine-related Machine setups Production orders Shipments General factory Cost and activity data have been supplied for the following products: Activity Rates $8.00...
-
Scorpion toxin triggers an action potential in pain-sensing neurons in animals by binding to a specific receptor. The toxin also acts to delay the inactivation of the neurons voltage-gated Na +...
-
Fahrad Inc. sells all of its product on account. Fahrad has the following accounts receivable payment experience: Percent paid in the month of sale .........10 Percent paid in the month after the...
-
Suppose that in studying a particular globular cluster containing \(10^{5}\) stars, whose average mass is that of our sun, astronomers find that the total kinetic energy of the stars is 10 times that...
-
Identify and distinguish between the two classes of net assets that nongovernment not-for profit entities are required to report.
-
What are the basic financial statements required for nongovernment ONPOs?
-
When are donor-restricted contributions and donor-restricted investment income permitted to be reported as revenues without donor restrictions?
-
Transportation has an irrefutable importance to an economy. Explain transportation's role in an economy. Support your claim with evidence of transportation's impact on an economy (provide a positive...
-
How would you describe an investor who has only invested in equities, with five of their top ten holdings in blue chip companies and they are tech focused.
-
Evelyn and Carter have been married for 46 years. They are in their retirement and have 2 kids that are financially independent.They have five grandchildren, all under the age of 10. Carter is in...
Study smarter with the SolutionInn App