Multiple Choice
Which of the following statements is false?
A) Unexpended intergovernmental grants and taxes dedicated to capital improvements in a capital projects fund are likely to be classified as Assigned Fund Balance
B) The residual classification for funds other than the General Fund is Assigned.
C) If a bond sinking fund is required by creditors or law, the unexpended resources would be classified as Restricted.
D) The corpus principal) from a permanent fund should be classified as Nonspendable.
Correct Answer:

Verified
Correct Answer:
Verified
Q109: If taxes are levied specifically for payment
Q110: Proceeds of tax supported bonds are recognized
Q111: Investments of permanent funds should be reported
Q112: The current and long-term portions of General
Q113: Taxes or other revenues raised specifically for
Q115: During the fiscal year ended December 31,
Q116: During the fiscal year ended December 31,
Q117: Unexpended intergovernmental grants and taxes dedicated to
Q118: Write yes or no in each
Q119: The residual classification for governmental fund balances