The Following Information Was Obtained from the General Fund Balance

question 39

Multiple Choice

The following information was obtained from the general fund balance sheet of Lima Village on June 30,2009,the close of its fiscal year: On June 30,2009,what was Lima's unreserved fund balance in its general fund?

• A)$84,000
• B)$44,000
• C)$34,000
• D)$24,000

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Definitions:

Total Benefit

The total gain received from consuming a good or service, often evaluated in terms of satisfaction or utility.

Profit-Maximizing Principle

The concept that firms operate to achieve the highest profit possible, which involves setting output where marginal costs equal marginal revenues.

Marginal Analysis

An examination of the benefits and costs of one additional unit of production or consumption.

Marginal Benefit

Refers to the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.