On the Statement of Revenues,expenditures,and Changes in Fund Balance Prepared

question 68

Multiple Choice

On the statement of revenues,expenditures,and changes in fund balance prepared for a debt service fund,the cash paid to retire matured serial bonds is reported as:
I.expenditures.
II.a direct deduction from unreserved fund balance.

• A)I only
• B)II only
• C)Either I or II
• D)Neither I nor II

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Definitions:

Payment of Dividends

The distribution of a portion of a company's earnings to its shareholders as determined by the board of directors.

Cash Outflow

Money or value leaving a business, typically through expenses, purchases, or other financial activities.

Selling Equipment

The process of disposing of company-owned machinery or equipment, usually to generate cash or reduce assets.

Book Value

Cost of equipment less accumulated depreciation.