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:

Language Of Liberty

A term often associated with the rhetoric and ideals surrounding freedoms and rights, particularly those outlined in foundational U.S. documents such as the Declaration of Independence and the Constitution.

Free Black Population

African Americans who were not enslaved and lived freely, especially before the Civil War in the United States.