What costs necessitate the reporting of an expenditure by a governmental fund?

Q: The modified accrual foundation of accounting is used by which fund category? Under the modified…

A: Introduction: Another accounting approach that combines accumulation premise bookkeeping and cash…

Q: Which among the following process is related to fund allocation for different activities? a.…

A: The fund is a fiscal and bookkeeping substance with a self-adjusting set of accounts recording cash…

Q: What are the two fund financial statements for governmental funds? What information does each…

A: Introduction Government Fund Financial statements includes General Funds, Special Revenue Fund, Debt…

Q: benefits ofered by government for employees in Explain in which category of funds are these benefits…

A: Retirement and pension benefits are given to a retired government official to make sure that they…

Q: What is the reason that fund accounting has traditionally been a prominent factor in the internal…

A: Fund refers to a self-balancing set of accounts including cash as well as other financial resources,…

Q: . Expenditures are used for which type of fund? A. Fiduciary B. Governmental C. Proprietary D.…

A: Answer :- Correct option is D. All of the above

Q: Which of the following is not a governmental fund? Choose the correct.a. Special revenue fundb.…

A:

Q: What is the purpose of a special revenue fund? Choose the correct.a. To account for revenues legally…

A: Special revenue fund refers to fund used within governmental body to record proceeds from certain…

Q: Describe the physical structure of a complete set of government-wide financial statements and a…

A: This question is answered generally by giving an overview of Governmental financial statements of…

Q: expenditure and ho

A: Reasons for India's rising govt expenditures include: (i) Development Programs: The majority of…

Q: how may resources in the general fund can be assigned to a specific purpose (if that is the intent…

A: The gap between assets as well as liabilities throughout the government expenditures balance sheet…

Q: How do governmental funds report capital outlay in fund financial statements? How do government-wide…

A: Explain how governmental funds report capital outlay in fund financial statements and how government…

Q: governmental funds

A: Government uses income and expenditure account, general fund, receipts and payments account etc. to…

Q: Which fund category uses modified accrual basis of accounting? What are the recognition rules of…

A: The government uses a different way to report their financial statements than the private sector…

Q: The funds allocated to products and services used to satisfy citizens' needs are classified as…

A: Solution: Government spends money from its treasuries to fulfil various needs for people in economy.

Q: Which of the following statements is correct about the reporting of governmental funds? Choose the…

A: Financial statements are condensed summary of transactions communicated in the form of reports for…

Q: What are the purpose and financial reporting requirements for the General and Special Revenue Funds?…

A: The general fund is the primary operating fund of a government, and it is responsible for anything…

Q: Which of the following funds of a governmental unit recognizes revenues only in the accounting…

A: correct option with proper explanation are as follows

Q: What are the five fund types within the governmental funds? What types of events does each of these…

A: Governmental funds are the funds which are used in the reporting of governmental-type activities of…

Q: What is the purpose of a special revenue fund? To account for revenues legally or externally…

A: Special revenue fund refers to fund used within governmental body to record proceeds from certain…

Q: give the definition, recognition, measurement and derecognition of "government grant"

A: International Financial Reporting Standards, generally called IFRS, are the accounting standards…

Q: How is the concept of value for money applied in distribution of district assembly common fund

A: Introduction:   The District Assemblies' Common Fund (DACF) is a pool of resources created under…

Q: If an internal service fund is intended to operate on a cost-reimbursement basis, then user charges…

A:

Q: How is depreciation handled in the federal government’s General Fund? How does it differ from how…

A: Depreciation: Generally speaking, the word "depreciation" refers to an accounting process that is…

Q: What federal fund is most like a custodial fund used by state and local governments?

A: Here given the details of the federal fund which is treated as the custodial fund which can be used…

Q: Which of the following is not a category of program revenue reported on the statement of activities…

A: Answer: Option A is the Correct Answer i.e General program revenue.

Q: How does the topic of accounting for government grants relate to the topic of accounting for…

A: Government Grants for biological  asset is covered  under IAS 41 Agriculture  standard

Q: What types of special revenue funds are beneficial?

A: Funds are the balance that has been kept by the company or the government so that any contingencies…

Q: Which of the following funds of a governmental unit recognizes revenues in the accounting period…

A: General fund:   It is the basic fund of the government. It is a fund used by the government to…

Q: An inter-fund transfer out should be reported in a governmental fund operating statement as a (an)

A: Inter fund transfer is the transfer included as an accounting transaction which shows transfer of…

Q: List some of the major adjustments required when converting from fund financial statements to…

A: Government accounting refers to the accounting under which all the financial transactions of the…