Which Classifications May Be Not Used for the Fund Balance

question 78

Multiple Choice

Which classifications may be not used for the Fund Balance of governmental funds?

• A) Spendable
• B) Non-Spendable
• C) Assigned
• D) Unassigned
• E) Restricted

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Definitions:

Treasury Stock

Shares that were issued and subsequently reacquired by the issuing company, reducing the amount of outstanding stock on the open market.

Par Value

The nominal or face value of a bond, share of stock, or other financial instrument, as stated by the issuing company.

Deductible Expenses

Expenses that can be subtracted from gross income, reducing the amount of income subject to taxation.

Financial Loss

The reduction in an organization's financial wealth, usually from expenses exceeding revenues in a given period.