Question
Which of the following is correct with respect to rainy day funds? Multiple Choice Rainy day funds are classified as committed or restricted if imposed
Which of the following is correct with respect to rainy day funds?
Multiple Choice
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Rainy day funds are classified as committed or restricted if imposed externally or by law.
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Rainy day funds are classified as unassigned if the funds are available for emergencies or revenue shortfalls which may be accessed on an ongoing basis.
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Both of the choices are correct.
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Neither of the choice is correct.
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How To Audit The Process Based QMS
Authors: Arter, Dennis R., Cianfrani, Charles A, And West, John E., 'Jack'
2nd Edition
0873898443, 978-0873898447
