The funds allocated to products and services used to satisfy citizens' needs are classified as ___________________ expenditures. a. Capital expenditure  b. Consumption c. Utilization d. Transfer payments

Q: The modified accrual foundation of accounting is used by which fund category? Under the modified…

A: Introduction: Another accounting approach that combines accumulation premise bookkeeping and cash…

Q: Which among the following process is related to fund allocation for different activities? a.…

A: The fund is a fiscal and bookkeeping substance with a self-adjusting set of accounts recording cash…

Q: Which of the following is not a financial factor affecting the location decision? The availability…

A: Location decision is one of the most important decisions with regard to the set up of the business…

Q: Which of the following uses the flow of current financial resources measurement focus? a. Internal…

A: Current financial resources measurement focus : The name itself specifies that financial statement…

Q: At what point in time does a governmental fund report an expenditure?

A: Definition:   Governmental (expendable) funds: Governmental (expendable) funds are used in the state…

Q: l assets used by governmental funds should be reporte

A: Since capital assets are used to create revenue, they are crucial to businesses. They also offer…

Q: Use the following information to determine whether the Development Special Revenue and the Debt…

A: According to the GASB, a fund should be considered major if it meets any one of the following:The…

Q: In a governmental fund, which one of the following constitutes revenue?a. Cash received from another…

A: Tax: It refers to a financial obligation or charge that is imposed by the government on the income,…

Q: In a governmental fund, which of the following is considered an expenditure? a. The purchase of a…

A: Expenditure: It can be defined as a payment that is made either via cash or credit card to purchase…

Q: The long-term asset account group is used for which of the following funds? Enterprise Capital…

A: Introduction: Long-term assets are investments in a firm that will benefit it for a long time.…

Q: accounts o

A: Modified accrual basis of accouting is generally used by the government agency or say government. it…

Q: -------- is the sacrifice resources of the government Select one: a. Owners Equity b. Income c.…

A: Assets means the resources owned by company for doing business activities. Owner equity mean the…

Q: . Expenditures are used for which type of fund? A. Fiduciary B. Governmental C. Proprietary D.…

A: Answer :- Correct option is D. All of the above

Q: Which of the following is budgetary account: a. Budgetary fund balance b. Revenue- fines and fees c.…

A: Budgetary accounts are those accounts that are used to reflect the operations in budget and budget…

Q: Maximizing the profit of the concern comes under ____________objective of financial management a.…

A: Financial management means planning, organising, directing and controlling the financial needs of an…

Q: What is the difference between an enterprise fund and an internal service fund?

A: Fund: It can be defined as a sum of money that is made available or kept aside for a specified…

Q: Finance is the efficient acquisition, allocation, and utilization of funds. Briefly discuss each…

A: Finance is all about the acquisition of funds in the most optimal manner, then allocating the…

Q: An NFP organization receives supplies from a donor. At what amount is the donation reported in…

A: A NPF stands for non profit organisation. It runs for the betterment of society rather than earning…

Q: From the list below categorize the items as they would appear on a: a.  Statement of Cash Flow…

A: Statement of financial performance shows the revenues and expenses and any revenues over expenses is…

Q: fill in the blanks Revenues are monies an organization received in exchange for ________ and…

A: SOLUTION REVENUE = PRICE OF GOODS & SERVICES * NO OF UNITS SOLD OR NO OF CUSTOMERS.

Q: tion of the financial system allows funds to flow from the surplus spending units to the deficit…

A: Step 1 One of the most significant components of contemporary civilization is the financial…

Q: Provide example of an internal service funds, describe the services provided and received within the…

A: Introduction:- An Internal Service Fund is one that primarily offers benefits, commodities, or…

Q: how do i calculate the goodwill and the charitable contribution?

A: Charitable contribution is the contribution which has been made by the company during the year and…

Q: rces in the general fund get assigned to a specific

A: Resource  allocation is considered to  important  part of business and investment . it is important…

Q: how may resources in the general fund can be assigned to a specific purpose (if that is the intent…

A: The gap between assets as well as liabilities throughout the government expenditures balance sheet…

Q: What costs necessitate the reporting of an expenditure by a governmental fund?

A: In a government fund, expenditures are recognised in the accounting period in which goods and…

Q: What are the two different ways that supplies and prepaid items can be recorded on fund financial…

A: There are two different methods to record supplies and prepaid items on fund financial statements:…

Q: mechanism ensure that funds have been properly allocated and spent

A: Proper Allocation of Funds: Proper allocation of fund is very important for the effective and…

Q: How does a voluntary health and welfare organization account for donated goods and cash contributed…

A: Not-for profit organisation is an organisation which have separate legal entity from its members and…

Q: What is the purpose of emergency fund?

A: Emergency Fund: An emergency fund is a vital corpus that must be set up in case of unforeseen…

Q: The billings for transportation services provided to other governmental units are recorded by the…

A: Internal service funds play a crucial role in governmental accounting by documenting operations that…

Q: Which of the following are the rights of agents: A Right of subsidy; right of support B Right of…

A:

Q: In which of the following funds is it appropriate to record depreciation of capital assets?

A: The Capital Projects Fund is designed to account for the acquisition, construction, or improvement…

Q: Which fund category uses modified accrual basis of accounting? What are the recognition rules of…

A: The government uses a different way to report their financial statements than the private sector…

Q: Define tapping fund assets

A: Fund asset: It can be defined as the value of cash, securities, and other holdings related to a…

Q: Governmental funds focus on _______ financial resources.

A: current financial resources are those that are either cash or expected to be collected within a…

Q: Complete the blank as appropriate: Internal Service funds account for activities in which goods or…

A: The government uses a different way to report their financial statements than the private sector…

Q: The study relating to the procurement of funds and its productive utilization is: O Finance O…

A: Finance is a broad category that includes various activities, such as investment, banking,…