Which of the Following Asset Amounts Would Be Classified as Restricted

question 40

Multiple Choice

Which of the following asset amounts would be classified as restricted fund balance on the governmental funds balance sheet?

• A) Cash related to a federal grant for the Public Works department.
• B) Supplies inventory in the General Fund.
• C) Cash in the debt service fund that the city has set aside to pay a long-term note.
• D) A cash contribution that must be maintained in perpetuity.

Understand the principles of insider trading and its consequences.

Identify the roles and obligations of directors, officers, and significant shareholders in a publicly traded company.

Recognition of the key securities regulatory bodies and their filing systems in Canada.

Distinguish between various financial intermediaries and their regulatory obligations.

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Definitions:

Personal Liability

The legal responsibility of an individual to settle a debt or pay for damages out of their own assets.

Fraud

The intentional deception made for personal gain or to damage another individual.

Shareholder

An individual or institution that owns at least one share of a company's stock, making them partial owners of the company.

Shareholder's Derivative Suit

A lawsuit brought by a shareholder on behalf of a corporation against a third party, often an insider of the corporation, for harm done to the corporation.