What is the purpose of reporting fund balance in five classifications? What is the difference between restricted fund balance and assigned fund balance?
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What is the purpose of reporting fund balance in five classifications? What is the difference between restricted fund balance and assigned fund balance?
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- Which fund category accounts on a modified accrual basis? What are the revenue and expense recognition requirements for the modified accrual basis of accounting?Which fund category uses modified accrual basis of accounting? What are the recognition rules of revenues and expenditures under modified accrual basis of accounting?Which of the following is budgetary account: a. Budgetary fund balance b. Revenue- fines and fees c. Voucher payable d. Unreserved fund balance
- Which among the following process is related to fund allocation for different activities? a.Budgeted appropriation b.Disbursement c.Encumbrance d.ReservationThe modified accrual foundation of accounting is used by which fund category? Under the modified accrual basis of accounting, what are the revenue and expenditures recognition rules?how do resources in the general fund get assigned to a specific purpose?
- Explain the different types of funds categories?Fund financial statements have separate columns for each activity. Which activities are reported in this manner?Which of the following neither increases nor decreases fund balance of the General Fund during the current period? a. Revenues. b. Other financing sources. c. Deferred revenues. d. Expenditures.
- Does the modified accrual accounting method apply to this kind of fund? What are the requirements for recognizing sales and expenses under the modified accrual accounting method?What is the electronic fund's transfer (EFT) system?What are the purpose and financial reporting requirements for the General and Special Revenue Funds? Please include the way the modified basis of accounting is used to account for revenues and expenditures along with the use of budgetary accounts