Which Fund Used by Colleges and Universities Is Most Like

question 43

Multiple Choice

Which fund used by colleges and universities is most like a local government's general fund?

• A) Unrestricted current fund.
• B) Restricted current fund.
• C) Unexpended plant fund.
• D) Agency funds.

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Definitions:

Fixed Asset Turnover Ratio

A financial metric that measures a company's efficiency in generating sales from its fixed assets, calculated by dividing net sales by the average net fixed assets.

Financial Statements

Records that provide an overview of a company's financial condition in both short and long term, including the balance sheet, income statement, and cash flow statement.

Common Shares

Equity securities that represent ownership in a corporation, giving shareholders voting rights and a share in the company's profits through dividends.

Contingency Reserves

Funds or resources set aside to cover unexpected costs or losses in a project, program, or portfolio, providing a financial cushion.