Which of the Following Fund Balance Classifications Is Used for Budgetary

question 26

Multiple Choice

Which of the following fund balance classifications is used for budgetary accounting but not for GAAP financial statement reporting?

• A) Nonspendable Fund Balance.
• B) Budgetary Fund Balance.
• C) Committed Fund Balance.
• D) Unassigned Fund Balance.

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Definitions:

Average Price

The sum of the prices of all units sold divided by the quantity of units, providing a central value that typifies the price level within a specific market.

Savings And Loan Associations

Organizations that primarily accept savings deposits and distribute loans, including mortgages, to borrowers.

Declining Real Estate

A situation where the value and demand for real estate decrease over time, often due to economic factors or oversupply.

Bankers Trust

was a historic American banking organization that was absorbed by Deutsche Bank in 1999, known for its role in financial services and investment banking.