Multiple Choice
Which of the following transactions is classified as an exchange transaction rather than a nonexchange transaction?
A) Fees charged for use of an athletic field at a city park.
B) State grant to conduct a smoking cessation program for middle school-aged youth.
C) Bequest left to the city by a former mayor.
D) Personal property taxes.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: The General Fund gives assets to the
Q2: Which of the following would properly be
Q3: The Encumbrances Outstanding account is properly termed
Q4: Revenues that are legally restricted to be
Q5: All revenue and interfund transfers of the
Q6: Governments,unlike business organizations,generally do not incur expenditures/expenses
Q7: A contribution was received by the city
Q8: The General Fund has transferred cash to
Q9: Amounts due to or from other funds
Q10: A gas tax that is restricted for