What Are the Five Categories of Fund Balance on a Governmental

question 84

Essay

What are the five categories of fund balance on a Governmental Funds Balance Sheet?

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Definitions:

Cognitive Dissonance

A psychological discomfort experienced when holding contradictory beliefs or values, or when behavior and beliefs do not align, often leading to a change in beliefs or behaviors to reduce the dissonance.

Small Amount

A quantity that is less than average or nominal, often referring to a minimal or insignificant portion of something.

Opinion

A belief or judgment that rests on grounds insufficient to produce complete certainty.

Cognitive Dissonance

The discomfort in one's mind arising when an individual simultaneously holds multiple conflicting beliefs, ideas, or values.