Which of the Following Statements Is True About Fund Balance

question 28

Multiple Choice

Which of the following statements is true about Fund Balance classifications for the governmental funds?

• A) A restricted fund balance is for monies the governing board has appropriated.
• B) An assigned fund balance has been designated for a specific purpose and is restricted to use for only that purpose.
• C) An unassigned fund balance has no restriction for use of the money and is only applicable to the General Fund.
• D) A committed fund balance has been designated by an outside party for a particular use.
• E) A non-spendable fund balance is designated only for Permanent Fund balances.

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Definitions:

Colloid Osmotic Pressure

The pressure exerted by proteins, mainly albumin, in a blood vessel's plasma that tends to pull water into the circulatory system.

Ascending Limb

Part of the loop of Henle in the kidney nephron that transports filtrate from the renal medulla back towards the cortex, important for the reabsorption of water and salts.

Loop of Henle

A section of the nephron in the kidney that is responsible for concentrating urine and conserving water.

Cotransported

Referring to the simultaneous transportation of two or more molecules across a cell membrane, usually by a specific carrier protein.