A Governmental Entity Has a General Fund and an Enterprise

question 29

Short Answer

A governmental entity has a General Fund and an Enterprise Fund.At the beginning of the year,neither fund has any unpaid salary liability.During the year,both funds paid salaries of $600,000.In addition,salaries for the last three days of the fiscal year ($15,000 for each fund)will be paid during the first week of the next fiscal year.How much should each fund report as salary expenditures (expenses)for the fiscal year?

---

Definitions:

Corporate Entrepreneur

An individual within a corporation who promotes innovation and new business development, similar to an entrepreneur within a startup.

Competitive Position

A business's standing or ranking among its competitors in the market, often determined by its competitive advantage.

Collaborate

To work jointly with others, especially in intellectual endeavors or projects, leveraging collective expertise.

Competitors

Entities or individuals involved in the same industry or market, vying for the same customer base or resources.