A Capital Projects Fund Has Outstanding Encumbrances of $75,000 as of the End

question 17

Multiple Choice

A Capital Projects Fund has outstanding encumbrances of $75,000 as of the end of the fiscal year. Assume that all resources in the Capital Projects Fund are considered to be restricted. How should these encumbrances be reported in the year-end external financial statements?

• A) As a specific identifiable component of restricted fund balance.
• B) As a specific identifiable component of committed fund balance.
• C) As a specific identifiable component of assigned fund balance.
• D) The encumbrances would only be reported in the note disclosures.

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Sample Representative

A subset of a population that accurately reflects the members of the entire population.

Mean

The arithmetic average of a set of numbers, calculated by adding all the numbers together and then dividing by the count of the numbers.

Causal Factors

Elements or conditions that can directly influence the occurrence or development of a phenomenon or outcome.

Population Efficacy

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