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?
Hours of Maintenance Activity Costs 480 $4,200 320 $3,000 400 $3,600 300 $2,820 500 $4,350 310 $2,960 320 $3,030 Based upon the data listed above, where hours of activity are used to predict...
On November 1, 2009, Ambrose Company sold merchandise to a foreign customer for 100,000 FCUs with payment to be received on April 30, 2010. At the date of sale, Ambrose entered into a six-month...
Brooks Corp. is a medium-sized corporation that specializes in quarrying stone for building construction. The company has long dominated the market, and at one time had 70% market penetration. During...
For the coming year, Cleves Company anticipates a unit selling price of $120, a unit variable cost of $60, and fixed costs of $324,000. Required: 1. Compute the anticipated break-even sales (units)....
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...
Discuss how management of business risk is accomplished by governments and businesses. Support your discussion with case studies from around the world.
The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Sales salaries Deductions: $180,000 Income tax withheld $65,296...
You have just been hired as the chief executive officer (CEO) in a medium-sized organization. The organization is not suffering financially, but neither is it doing as well as it could do. This is...
The following is the selling price and cost information about three joint products: X Y Z Anticipated production 1 2 , 0 0 0 lbs . 8 , 0 0 0 lbs . 7 , 0 0 0 lbs . Selling price / lb . at split - off...
calculate the maximum bending compressive stress of the following section under NEGATIVE bending moment of 216KN.m. 216mm 416mm 316mm 115mm
Need assistance with the following forms: 1040 Schedule 1 Schedule 2 Schedule C Schedule SE Form 4562 Form 8995 Appendix B, CP B-3 Christian Everland (SS number 412-34-5670) is single and resides at...
Use a graph to give a rough estimate of the area of the region that lies under the curve y = x x, 0 x 4. Then find the exact area.
Reconsider Prob. 1474. In order to drain the tank faster, a pump is installed near the tank exit as in Fig. P1475. Determine how much pump power input is necessary to establish an average water...
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%,...
Imagine you are an Investor in the Stock Market. Identify three companies in the Korean Stock Market (KOSPI) where you would like to invest. Explain your answer
Domino is 4 0 years old and is married out of community of property with the exclusion of the accrual system to Dolly ( 3 5 ) . They have one child, Domonique, who is 1 1 years old. Domino resigned...
YOU ARE CREATING AN INVESTMENT POLICY STATEMENT FOR JANE DOE General: 60 years old, 3 grown children that are living on their own and supporting themselves. She is in a very low tax rate so we don't...

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