Which of the following is a characteristic of a Special Revenue Fund that differentiates it from a

Question:

Which of the following is a characteristic of a Special Revenue Fund that differentiates it from a General Fund?

a. A Special Revenue Fund is required to be budgeted on a multi-year basis.

b. A Special Revenue Fund is established only if a revenue source is restricted or committed to expenditure for a specific purpose other than debt service and capital outlay.

c. A governmental entity may only have one Special Revenue Fund.

d. A Special Revenue Fund uses the total economic resources measurement focus.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Governmental And Nonprofit Accounting

ISBN: 9781292040080

10th International Edition

Authors: Robert J. Freeman, Craig D. Shoulders, Gregory S. Allison, G. Robert Smith

See More Books

Question Posted: Feb 18, 2024 04:00 AM

See More Questions

Multiple Choice Questions Identify the best answer for each of the following: 1. Which of the following is a characteristic of a Special Revenue Fund that differentiates it from a General Fund? a. A...
Choose the best answer. 1. Under GASB standards, intangible assets include a. Computer software internally generated by government personnel. b. Water rights. c. Leased assets. d. All of the above....
This page covers the the term expenditures used in modified accrual accounting. Expenditures are decreases in net financial resources when the related liability is incurred....
What effect does a weakening in U.S dollar have on Net Income for subsidiaries of U.S companies?
What is the source of most franchiser-franchisee litigation? Which party does the standard franchise contract favor?
(a) Describe the type of indeterminate form (if any) that is obtained by direct substitution. (b) Evaluate the limit, using LHpitals Rule if necessary. (c) Use a graphing utility to graph the...
An experiment consists of five draws from a pack of cards. Denoting the outcomes BRRBR, BRRRB,..., for black and red cards and assuming that all 32 outcomes are equally likely, find the probability...
Use the information in the adjusted trial balance reported in Exercise 4-4 to compute the current ratio as of the balance sheet date (round the ratio to two decimals). Interpret the current ratio for...
Superior Company provided the following data for the year ended December 3 1 ( all raw materials are used in production as direct materials ) : Selling expenses $ 2 1 7 , 0 0 0 Purchases of raw...
The net revenue approach can be best described as a. being consistent with the reporting of revenues in the private sector. b. evidenced by the recognition of bad debt expense for revenues earned but...
Car Insurance X advertises that they will pay the full cash value of a car if it is stolen. In contrast, most insurance companies pay back the cash value of the car less a sizable deductible. Why is...
Using the transactions in CP5-1, complete the following table by indicating the sign of the effect (+ for increase, - for decrease, NE for no effect, and CD for cannot determine) of each transaction....
An internal auditor who uses the CIA designation after it has expired most likely is engaging in an act discreditable under which principle of The IIA's Code of Ethics?
The relationship between IT and other areas of the organization is critical for many aspects of IT within organizations. Discuss the role of IT governance and leadership in understanding how...
Write the equation that results in the desired translation. The square root function, shifted 2 units downward. y = (Type an expression using x as the variable.) www
Company B operates an offshore oilfield where its licensing agreement requires it to remove the oil rig at the end of production and restore the seabed. 90% of the eventual costs relates to the...
Compute the return on investment (ROI) for an investment that generated a profit of $50,000 with an initial investment of $200,000. Calculate the working capital for a company with current assets of...
On January 1, the company purchased a machine for $80,000. The machine had an estimated useful life of eight years and an estimated salvage value of $8,000. After three full years of using the...
Describe a job you have had in the past or a job you are very familiar with. Indicate the negative aspects of the job and how it could be improved with current human resource management techniques.
Explain or illustrate how the following items should be reported in an Enterprise Funds statement of revenues, expenses, and changes in fund net position: 1. Depreciation on capital grantfinanced...
Using the information provided here for the Airport Enterprise Fund of the City of Demere, prepare a statement of revenues, expenses, and changes in fund net position for 20X3. Charges for services ....
Multiple Choice Questions Identify the best answer for each of the following: Questions 1 through 4 are based on the following scenario: On January 1, 20X7, Clyde County issued $100 million of 5%,...
1.One of the employees in the article indicated that he was eager to return to the office because he was a "water cooler guy." What does that mean? Do companies need different kinds of personality...
Which one would you recommend for your company? Solve the NPV for both projects. Project A: Initial outlay is $89,000. Makes an annuity of cash inflows of $21,000 for 6 years at 9%. Project B:...
Using the framework of risk management, compare between risk management of listed domestic financial institutions (Abu Dhabi Stock Exchange) in three different years. Write a report to evaluate the...

Which of the following is a characteristic of a Special Revenue Fund that differentiates it from a

Question:

Step by Step Answer:

The characteristic of a Special Revenue Fund that differentiates it ...View the full answer

Governmental And Nonprofit Accounting

Students also viewed these Business questions