The ultimate authority of a fund's track record is its current profile prospectus.

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 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: accounts o

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

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: Explain the distinction/s between custodial funds and trust funds. What financial statements…

A:

Q: Prepare a statement of Revenues, Expenditures, and changes in fund balance for the governemental…

A: Following is  a statement of Revenues, Expenditures, and changes in fund balance for the…

Q: Fund financial statements have separate columns for each activity. Which activities are reported in…

A: Governmental funds: This is the fund category which includes governmental activities in the…

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: What is the appropriate accounting for each of the phases, Capital projects funds and Debt services…

A: Investing in a built environment represents short-term costs that return only benefits on long-term…

Q: Accounting for permanent funds closely resembles the accounting for a. internal service funds. b.…

A: Fund: Funds refer to an amount of money which is set aside or saved by individuals, government, and…

Q: What is the electronic fund's transfer (EFT) system?

A: Todays generation is introduced to digital payments and any business whether it be large or small…

Q: Defines the meaning of Capital Projects Fund and Debt Service Funds.

A: Capital Project Fund means a fund used to account for financial resources to be used for the…

Q: Which basis of accounting should be used when preparing a budgetary comparison schedule (or…

A: Answer:- Budgetary meaning:- To put it succinctly, budgetary refers to everything associated with a…

Q: For governmental funds, what measuring emphasis is utilized in the fund financial statements, and…

A: Solution are as follows

Q: What are some major adjustments required when converting from fund financial statements to…

A: major adjustment for converting from fund financial statements to government-wide statements are…

Q: In applying the current financial resources measurement focus, when are liabilities recognized in…

A: Introduction Liabilities of Government includes pension payments, salary payments, payments for…

Q: Describe the disclosure requirements for an Enterprise Fund. Explain how disclosure assists users of…

A: Agencies reporting enterprise funds (a type of proprietary fund) or using enterprise fund accounting…

Q: State the kinds of note disclosures that need to be made to help users understand the nature of…

A: Question is answered based on Government Accounting. A general fund is a primary fund used by a…

Q: Budget comparison schedules or statements are needed for which funds? Should the budgetary…

A: Here is the answer:

Q: explaining the various items that are considered as sources and applications  of fund while…

A: Fund flow statement is a statement prepared to know the reason for change in the financial statement…

Q: What is the person or institution that invest or make fund available?

A: An investor is a person or other entity (such as a company or mutual fund) who invests money in the…

Q: How do I prepare a closing balance sheet for the debt service fund shown below?

A: Meaning of Debt service fund – This fund is created for the repayment of debt. If a company is…

Q: for which funds are budgetary comparison schedules or statements required? should the actual…

A: Financial accounting standards board (FASB):This is the organization which creates, develops, and…

Q: recognition, an item is captured for inclusion in a. The Fund Flow statement b. The Journal c. The…

A: An item is captured for inclusion in the journal,cash flow ,fund flow and the statement of financial…

Q: What are types of activities are reported in Custodial Funds?

A: Custodial funds Custodial funds are classified as fiduciary funds under GASB rules when they are not…