Indicate Whether the Following Revenues Should Be Classified as Program

question 88

Essay

Indicate whether the following revenues should be classified as program revenues or general revenues on the government-wide statement of activities.
________ 1. Unrestricted operating grants that can be used at the discretion of the city council.
________ 2. Capital grants restricted for highway construction.
________ 3. Charges for building inspections.
________ 4. A special assessment for snow removal.
________ 5. Fines and forfeits.
________ 6. Motor vehicle fuel taxes restricted for road repair.
________ 7. Unrestricted investment earnings.

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Definitions:

Forward Contract

A financial derivative that represents a personalized agreement to buy or sell an asset at a specific price on a future date.

Futures

Standardized contracts to buy or sell a specific asset at a predetermined price at a specified future date, used for hedging or speculation.

Forwards

A contract between two parties to buy or sell an asset at a specified price on a future date.

Swaps

Agreements to exchange two securities or currencies.