What Are Some of the Disadvantages of Long-Term Supply Contracts

question 11

Essay

What are some of the disadvantages of long-term supply contracts?

---

Definitions:

Restricted Grant

Funding provided for a specific purpose, with limitations on how it can be spent by the recipient.

Election Day

A designated day when voters participate in the electoral process to choose officials or decide on issues.

Governmental Fund Financial Statements

Financial reports that show the financial position and results of operations of governmental entities, focusing on how money flows into and out of funds.

General Fund

The primary operating fund of a government, covering all financial resources except those required to be accounted for in another fund.