A Proprietary Fund of a Government Has Some Donor-Restricted Assets

question 66

Multiple Choice

A proprietary fund of a government has some donor-restricted assets.Which of the following best describes where and how those assets will generally be displayed in the fund's financial statements?

• A)In a separate restricted asset category on the statement of net position.
• B)Intermingled with other assets on the statement of net position.
• C)Intermingled with other assets on the statement of net position, but footnoted.
• D)In a separate restricted fund.
• Use the following information to answer #10 and #11.
• Bowdon City voted to establish an internal service fund to account for its printing services.The city transferred $500,000 cash from the general fund to the newly created internal service fund.

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Definitions:

Vicariously Liable

Holding one person responsible for the actions of another, especially in legal contexts where employers are responsible for their employees.

Collective Bargaining

The process of negotiation between employers and a group of employees aimed at agreements to regulate working conditions.

Labour Relations Board

A governmental body responsible for overseeing and enforcing labor and employment laws, specifically relating to collective bargaining and union rights.

Collective Bargaining

The process of negotiation between employees, usually through their unions, and employers on terms of employment, such as wages and working conditions.