Question
The city council of a city government (the highest-level of decision-making authority) voted to use money in the future to repair parking garages in the
The city council of a city government (the highest-level of decision-making authority) voted to use money in the future to repair parking garages in the downtown area. How is the fund balance designated to reflect that decision?
A) Committed. B) Nonspendable. C) Assigned. D) Unassigned. E) Restricted.
Answer: D
Please explain the why the answer is not "Committed".
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
