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

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Definitions:

Input-Related

Pertaining to or involving the resources, data, or materials that are used to produce an output or result.

Dollar Sales Volume

The total revenue achieved from the sales of products or services, measured in dollars.

Customer Contacts

Interactions or communications between a business and its customers through various channels like phone, email, or in-person visits.

Input-Related

Pertains to factors, resources, or materials that are required for the production process or service delivery.