Assume That a Debt Service Fund Does Not Have Nonspendable

question 33

Multiple Choice

Assume that a Debt Service Fund does not have nonspendable fund balance. Further, assume that total fund balance is less than the sum of restricted and committed levels of fund balance. This deficit should

• A) Be reported as negative assigned fund balance.
• B) Be reported as a negative unassigned fund balance.
• C) Be reported as a negative nonspendable fund balance.
• D) Be netted against the positive committed fund balance.

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Definitions:

Digestive System

The system of organs responsible for the intake, breakdown, absorption of food and elimination of waste, including the mouth, esophagus, stomach, intestines, and related structures.

Chronic Glomerular Nephritis

A long-term inflammation of the tiny filters in the kidneys (glomeruli) that can lead to kidney failure.

Renal Failure

A medical condition in which the kidneys lose the ability to remove waste and balance fluids in the body.

Hemodialysis

A medical procedure to remove waste products and excess fluid from the blood when the kidneys are not functioning properly.