Match the Following Fund Balance Descriptions for a General Fund

question 14

Essay

Match the following fund balance descriptions for a General Fund with the proper classification for a fund balance.Each classification may be used more than once.
A.Nonspendable Fund Balance
B.Restricted Fund Balance
C.Committed Fund Balance
D.Assigned Fund Balance
E.Unassigned Fund Balance
________ 1.Amounts can only be spent for the specific purposes determined by a formal action of the government's highest level of decision-making authority.
________ 2.Amounts can only be spent for the specific purposes stipulated by constitution,external resource provider or enabling legislation.
________ 3.Residual classification of funds for the General Fund.
________ 4.Dollar amount of Ending Inventory.
________ 5.Amounts intended to be used by the government for specific purposes but do not meet the criteria of restricted or committed.
________ 6.Dollar amount of endowment principal.

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