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A city government has decided to build and operate a convention center. Identify what factors should be considered in deciding whether to account for the convention center as an Enterprise Fund or as part of general governmental activities?
Risk Of Loss
The potential for an asset to decrease in value or for an investment to lose money.
Insurable Interest
A requirement indicating that a person or entity must have a direct stake in the preservation of the insured item or person to legally purchase insurance on that item or person.
Simple Delivery Contract
An agreement where the delivery of a product is made immediately upon completion of the sale.
Contract
A legally binding agreement between two or more parties that outlines obligations and rights concerning specific terms.
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