Question
A down payment made at the inception of a capital lease by a government fund department decreases the fund balance of the government fund. T
A down payment made at the inception of a capital lease by a government fund department decreases the fund balance of the government fund. T or F
The City of Cleveland, Ohio maintains at least three General Funds each year in compliance with GASB governmental accounting requirements, T or F
Which of the following would result in an increase in the fund balance of a Government Fund?
a. | Transfer of money out of the fund to another fund of the same government | |
b. | Purchase of a general government capital asset
| |
c. | Payment of general government long-term debt principle and related interest | |
d. | Transfer of money into the fund from another fund of the same government |
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