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The central city was awarded two state grants during the fiscal year 2019 RO 2 million and RO 1 million respectively. These grants used only
The central city was awarded two state grants during the fiscal year 2019 RO 2 million and RO 1 million respectively. These grants used only for restricted purposes. The expenditure related to the restricted activity is RO 0.5 million. The excess of revenue over expenditure in special revenue fund is O a. None of the options O b. RO 3 million . c. RO 0.5 million O d. RO 2.5 million A municipality's general fund shows the total fund assets RO 15,000 and total fund liabilities RO 12,000. Which one of the following is the difference between the total of fund assets and liabilities? O a. None of the options O b. General expenditure equity RO 3,000 O c. Accounting equity RO 3,000 O d. Owners fund equity RO 3,000
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