Solved

Rainy Day Funds That Are Available "In Emergencies" or "Revenue

Question 150

True/False

Rainy day funds that are available "in emergencies" or "revenue shortfalls" may still be classified as committed if the emergency or shortfall condition is specified and is of such a magnitude as to distinguish it from events that are routine.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q140: The modified accrual basis evolved from the

Q141: The Budgetary Comparison Schedule requires a column

Q142: The Fire Department of a certain city

Q143: When supplies ordered for use in an

Q144: Transfers from one fund to another are

Q145: The General Fund of the City of

Q146: Expenditure classifications by function includes all of

Q147: When using modified accrual accounting, revenues should

Q148: Budgetary Fund Balance -- Reserve for Encumbrances

Q149: Governmental Funds Fund Balance is displayed in