For Each of the Following Scenarios, Indicate How They Would

question 16

Essay

For each of the following scenarios, indicate how they would be classified for fund balance reporting purposes using the classification list.
A. Nonspendable
B. Restricted
C. Committed
D. Assigned
E. Unassigned
________ 1. Bond proceeds of $15,000,000 that must be used for construction of a fire substation remain unspent at the end of the fiscal year.
________ 2. Prepaid rent of $6,000 remains at the end of the fiscal year.
________ 3. The city council adopted a plan to set aside 2% of revenues over the next three years to help build cash reserves. At the end of the fiscal year 2% of the revenues were set aside.
________ 4. The state transportation department provided $1,000,000 in state funds to be used for street widening. At the end of the fiscal year $750,000 remained unspent.
________ 5. The county received a $3,000,000 endowment during the year.

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Definitions:

Bipolar Disorder

A psychological disorder marked by severe fluctuations in mood, encompassing episodes of intense euphoria (mania or hypomania) and deep sadness (depression).

Fugue

An uncommon mental health condition marked by reversible memory loss concerning one’s personal identity, covering memories, personality traits, and various attributes that define individuality.

Emotional Disturbances

Psychological or behavioral disorders characterized by anxiety, mood swings, depression, or aggression that impair one’s educational performance.

Mood Disorders

A category of mental health disorders that primarily impact an individual's emotional state, such as depression and bipolar disorder, affecting mood and daily functioning.