GASB Standards Suggest the Following Classification Scheme for Expenditures

question 47

Short Answer

GASB standards suggest the following classification scheme for expenditures:
A.Function
B.Program
C.Organization unit
D.Activity
E.Character
F.Object
For each of the following expenditure items,indicate its correct classification by placing the appropriate letter in the blank space next to the item.
____ 1.Streetlight repair
____ 2.City clerk
____ 3.Salaries and wages
____ 4.Transportation
____ 5.Current operating expenditures

---

Definitions:

Fertile Soil

Soil rich in nutrients and organic matter, capable of supporting vigorous plant growth.

Temperate Grasslands

Ecosystems characterized by vast open areas with relatively few trees, experiencing moderate rainfall and seasonal temperature variations, often used for grazing and agriculture.

Tropical Deciduous Forest

A biome classified by trees that shed their leaves in dry seasons, found in tropical regions with seasonal rainfall.

Desert Plants

Flora adapted to arid environments, often featuring modifications like thick stems or leaves that minimize water loss.