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Carlisle Established a Motor Vehicle Service and Maintenance Fund to Service

question 23

Multiple Choice

Carlisle established a motor vehicle service and maintenance fund to service and maintain all cars and trucks owned by the town.Revenues of the fund will only come from billings to the funds which use the motor vehicle service and maintenance fund.What type of fund is the motor vehicle service and maintenance fund?


Definitions:

Fixed Expense

Costs or expenses that remain constant for a period of time regardless of changes in business activity levels, such as rent or salaries.

Net Assets

The total value of an organization's assets minus its total liabilities, representing the organization's financial health.

Physical Assets

Tangible resources owned by an individual or organization, including equipment, buildings, and land.

Contributed Income

Financial support received by an organization from donations, grants, or philanthropic gifts, as opposed to revenue generated from sales or services.

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