FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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how do resources in the general fund get assigned to a specific purpose?
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- How is a cash budget used to help manage current assets?arrow_forwardState the kinds of note disclosures that need to be made to help users understand the nature of “Transfers in” to the General Fund.arrow_forwardBudget comparison schedules or statements are needed for which funds? Should the budgetary comparison schedules' real revenues and expenditures be presented in accordance with GAAP? Why are you or are you not?arrow_forward
- Why are budgetary entries recorded in the individual funds of a state or local government?arrow_forwardWhat is the capital expenditures budget?arrow_forwardWhich of the following is not a category of program revenue reported on the statement of activities at the government wide level? a. General program revenue b. Charge for services c. Operating grants and contribution d. Capital grants and contributionarrow_forward
- for which funds are budgetary comparison schedules or statements required? should the actual revenues and expenditureson the budgetary comparison schedules be reported on the GAAP basis? why or why not?arrow_forwardHow do you create a project budget?arrow_forwardWhich one of the following is a revenue expenditure?arrow_forward
- An inter-fund transfer out should be reported in a governmental fund operating statement as a (an)arrow_forwardOn what should the governmental fund financial statements report? Multiple Choice Cost of government services. Net position and results of financial operations of the government as a whole. Fiscal accountability. Operational accountability.arrow_forward
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