The Town of Baker Reported the Following Items on the June

question 17

Multiple Choice

The Town of Baker reported the following items on the June 30,20X9,balance sheet of its general fund:

At June 30,20X9,what amount should be reported for Fund Balance-Unassigned?

• A)$46,000
• B)$40,000
• C)$30,000
• D)$16,000

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Definitions:

Maker

In finance, the maker is the party that creates or issues a promissory note, thereby agreeing to pay a certain amount of money to a payee at a future date.

Bearer

An individual in possession of an instrument, such as a check or bond, that is not made out to a specific payee.

Certified Cheque

A cheque guaranteed by a bank, indicating that the funds are available and have been set aside for the payee.

Bill Drawn

A document requesting the payment of money, typically used in international trade, specifying the amount and terms of payment.