Examlex
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.
Net Income
A company's final earnings following the deduction of all expenses and taxes from its revenues.
Net Cash Flow
The difference between cash inflows and outflows in a given period, indicating the liquidity position of a business.
Depreciation Expense
The amount of the cost of a tangible asset that is allocated as an expense over its useful life.
Gain
The financial benefit realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
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