Which of the Following Statements Is True About Fund Balance

question 28

Multiple Choice

Which of the following statements is true about Fund Balance classifications for the governmental funds?

• A) A restricted fund balance is for monies the governing board has appropriated.
• B) An assigned fund balance has been designated for a specific purpose and is restricted to use for only that purpose.
• C) An unassigned fund balance has no restriction for use of the money and is only applicable to the General Fund.
• D) A committed fund balance has been designated by an outside party for a particular use.
• E) A non-spendable fund balance is designated only for Permanent Fund balances.

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Definitions:

Mental Ability

The capacity to perform cognitive tasks, understand complex ideas, and adapt effectively to the environment through reasoning and learning.

Vocations

Occupations to which a person is specially drawn or for which they are suited, trained, or qualified.

Learning Disabilities

Neurodevelopmental disorders that affect the brain's ability to receive, process, store, respond to, and communicate information.

Learning Disability

A neurological disorder that affects one or more of the basic processes involved in understanding or in using spoken or written language.