Which of the Following Is Not a Typical Governmental Fund

question 32

Multiple Choice

Which of the following is not a typical governmental fund liability, and thus not an expenditure that is recognized when the liability is incurred?

• A) Accounts payable.
• B) Long-term note payable.
• C) Salaries payable.
• D) Vouchers payable.

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Definitions:

Multilateral Transfer

The transfer of resources (financial, goods, services) between multiple countries or parties without direct reciprocation.

Developing Country

A nation with a lower level of industrialization, a lower standard of living, and a lower Human Development Index (HDI) compared to developed countries.

World Bank

An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

Privatization

The process of transferring ownership or control of a business or service from the government to private individuals or organizations.