A Proprietary Fund of a Governmental Entity Has Donor-Restricted Assets

question 10

Multiple Choice

A proprietary fund of a governmental entity has donor-restricted assets on its balance sheet.Which of the following best describes where and how those assets will generally be displayed?

• A)In a separate restricted asset category on the balance sheet.
• B)Intermingled with other assets on the balance sheet.
• C)Intermingled with other assets on the balance sheet but footnoted.
• D)In a separate restricted fund.
• Use the following information to answer #7 and #8.
• The City of Brockton voted to establish an internal service fund to account for its printing services.The City transferred $500,000 cash from the General Fund to the newly created internal service fund.

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Definitions:

Positive Amount of Unemployment

A situation where there is a nonzero level of unemployment in the economy, often considered normal due to frictions and transitions in the job market.

Market-clearing Wage

The wage rate at which the quantity of labor supplied equals the quantity of labor demanded.

Market-clearing Wage

The wage rate at which the quantity of labor supplied is equal to the quantity of labor demanded.

Efficiency Wage

A higher-than-market wage that a firm pays to increase worker productivity and reduce turnover.