Multiple Choice
Which of the following is true with respect to rainy day funds?
A) Rainy day funds are classified as committed if they are created by a resolution or ordinance that identifies the specific circumstances under which the resources may be expended.
B) If rainy day funds are available "in emergencies" or periods of "revenue shortfalls" they are classified as committed.
C) Both A and B.
D) Neither A nor B.
Correct Answer:
Verified
Correct Answer:
Verified
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