At June 30,2009,total Assets for the Various Funds of a Local

question 30

Multiple Choice

At June 30,2009,total assets for the various funds of a local municipality were as follows: Applying GASB 34 criteria,which of the above are major funds for reporting purposes?

• A)GF,CPF,EF
• B)CPF,EF
• C)CPF,ISF,EF
• D)GF,CPF,ISF,EF

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Definitions:

Stockout

A situation where inventory is exhausted and items are unavailable for sale or use, often resulting in lost sales or delays.

Back Order

An order for a product that cannot be filled at the current time due to a lack of available stock, to be fulfilled once the item becomes available.

Order Processing

The complete sequence of actions taken from the time an order is placed until it is delivered, including receipt, fulfillment, and shipment.