Which of the Following Is True Regarding Other Financing Sources

question 15

Multiple Choice

Which of the following is True regarding other financing sources and other financing uses?

• A) Both must be reported separately from revenues and expenditures in the statement of revenues, expenditures, and changes in fund balances.
• B) These terms are used to distinguish program revenues or expenses from general revenues or expenses.
• C) These terms are used for minor revenue or expenditure items that are peripheral to the government's mission.
• D) Other financing sources are equivalent to gains and other financing uses are equivalent to losses.

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Definitions:

Wholesaler

A type of business that purchases goods in large quantities from manufacturers or importers and sells them to retailers, other wholesalers, or occasionally to final consumers.

Intermediary

A person or organization that acts as a mediator or agent between parties, especially in a business or financial transaction.

Ownership

The legal right to possess, use, and dispose of something; often refers to the possession of assets.

Retailer

A business or entity that sells goods or commodities directly to consumers, usually in small quantities and from a fixed location, storefront, or online platform.