For Each of the Following Transactions That Could Be Introduced

question 5

Essay

For each of the following transactions that could be introduced to fund the maintenance of the city park,state the type of fund(s)that would be affected.Assume that a capital project fund will be used to handle any long-term improvements or additions to the park.
1.Resources used to make 60 monthly installments on outstanding long-term debt.
2.Implemented a tax on alcohol purchases specifically designated for the park upkeep.
3.A local sports organization that uses the park raises funds and donates the money,stating that the principal may not be spent,but designating earnings to the park upkeep.
4.City council approves the funds from existing resources for the upkeep required in the upcoming year.
5.Resources used only to pay principal and interest of debt outstanding to finance park maintenance.

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Definitions:

Profit Sharing

The return of some company profit to employees in the form of a cash bonus or a retirement supplement.

Blue-collar Employees

Workers who engage in physically demanding jobs typically in industries like manufacturing, construction, and maintenance.

Performance

The act of carrying out a task or the level of efficiency and effectiveness with which it is executed.

Wage Incentive Plans

Compensation strategies designed to motivate employees by tying a portion of their pay directly to performance or productivity levels.