Question
Which of the following statements is correct? Multiple Choice Fund balance represents the legal claim property owners and voters have on the excess of fund
Which of the following statements is correct?
Multiple Choice
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Fund balance represents the legal claim property owners and voters have on the excess of fund assets over liabilities.
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Fund balance is analogous to the capital account of an investor-owned business.
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Fund balance classifications are nonspendable, spendable, assigned, and unassigned.
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Unassigned Fund balance represents the net resources of the fund that are currently available for future spending.
PLEASE GIVE ME THE RIGTH ONE LETTER (A) is not the correct one
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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
