If a City Receives Notification of an Expenditure-Driven Grant Award

question 30

Multiple Choice

If a city receives notification of an expenditure-driven grant award and the actual proceeds sixty days prior to the start of the grant period, the entry to record the grant in the Special Revenue Fund would be

• A) A debit to grants receivable and a credit to grants revenue.
• B) A debit to cash and a credit to grants revenue.
• C) A debit to grants receivable and a credit to unearned revenue.
• D) A debit to cash and a credit to unearned revenue.

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Definitions:

Occupational Mobility

The ability of individuals to move between different job positions or career paths, often as a measure of socioeconomic flexibility and opportunities.

Janitor

A person employed to clean and maintain buildings, such as schools, offices, and residential complexes.

Canadians

Citizens of Canada or individuals residing in Canada, characterized by a diverse range of cultural backgrounds and identities.

Owe

The obligation to pay back a debt or return a favor to someone who has provided a loan, service, or benefit.