In Order to Compute the Ratio Unreserved Fund Balance/revenues-General Fund,one

question 79

Multiple Choice

In order to compute the ratio unreserved fund balance/revenues-General Fund,one would look in the CAFR at the:

• A) Governmental funds Balance Sheet and the Governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances.
• B) Government-wide Statement of Net Assets and government-wide Statement of Activities.
• C) Governmental funds Balance Sheet.
• D) Governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balance.

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Definitions:

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues.

Dividends

Monetary distributions from a company to its shareholders, often based on the profits of the business.

Net Income

Net income is the total profit of a company after all expenses and taxes have been deducted from total revenues.

Retained Earnings

Profits that a company keeps after dividends have been paid out to shareholders, often reinvested in the business or used to pay down debt.