For Each of the Following Events or Transactions,identify the Type

question 11

Essay

For each of the following events or transactions,identify the type of fund(s)that will be affected.
1.A central purchasing department was established to handle all the purchasing needs of a county government.
2.A county government levies sales taxes restricted as to use for job creation.
3.A county government receives a large contribution specifying that income from the contribution be distributed each year to the county zoo.The principal is to remain intact indefinitely.
4.A city government paid construction costs of $12,000 on city hall building.
5.A city government paid general operating costs.

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Definitions:

Residential Purposes

Refers to the use of property exclusively for living or dwelling by individuals or families, distinct from commercial or industrial uses.

Definite-Term

A term or period with a clear beginning and end. In contracts, it refers to an agreement effective for a specific duration.

Term for Years

A leasehold estate for a specific period of time, which could range from months to years, but has a definite end date.

Lease

A contract granting use or occupation of property during a specified period in exchange for a specified rent.