Multiple Choice
The Township of Thomasville's General Fund has the following net resources at year end:
•$66,000 of prepaid insurance
•$375,000 rainy day fund approved by the township governing board with specific conditions for its use
•$2,500 of supplies inventory
•$61,000 state grant for snow removal
•$150,000 contractual obligations for the purchase of equipment
•$200,000 to be used to fund government operations in the future
•Outstanding encumbrance of $80,000 for the purchase of furniture & fixtures
-What would be the total Restricted fund balance?
A) $291,000
B) $211,000
C) $150,000
D) $ 61,000
Correct Answer:
Verified
Correct Answer:
Verified
Q43: Wages that have been earned by the
Q71: Which of the following is true with
Q73: At what point would the General Fund
Q79: Governments may create special revenue funds whenever
Q84: Which of the following items would typically
Q87: Assume encumbrances do not expire at year-end.
Q98: Budgetary accounts begin each year with a
Q102: An exchange transaction is one where each
Q110: Revenues are raised to finance governmental activities,but
Q147: When using modified accrual accounting, revenues should