Chapter 3 Flashcards
1
Q
Restricted fund balance
A
the net resources of a governmental fund that are subject to constraints imposed by external parties or law.
2
Q
Committed fund balance
A
the net resources of a governmental find that the governing body has specified for a particular use
3
Q
assigned fund balance
A
the net resources of governmental funds that the government intends for a specific purpose
4
Q
Unassigned fund balance
A
the residual category for the general fund
5
Q
Other financing sources
A
transfers in from other funds and the proceeds of long term borrowing
6
Q
nonexchange transactions
A
transactions in which a government receives resources without directly giving equivalent value in exchange
7
Q
A
