Which of the Following Statements Is True About Fund Balance

question 33

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 normally applicable to the general fund.
• D) A committed fund balance has been designated by an outside party for a particular use.
• E) A nonspendable fund balance is designated only for the balance of permanent funds.

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Definitions:

Cognitive Development

The process of growth in intellectual abilities such as thinking, reasoning, and problem-solving.

Varying Lengths

Differences in duration or size among objects, processes, or time periods.

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Describes individuals, often children, who demonstrate a significant, higher-than-average ability in academic subjects.

Class Inclusion

Class Inclusion is a concept in cognitive development that refers to the ability to understand that a whole category can include both a subclass and individual items within that subclass.