Question

Match the following fund balance descriptions for a General Fund with the proper classification for a fund balance. Each classification may be used more than once.

A. Nonspendable Fund Balance

B. Restricted Fund Balance

C. Committed Fund Balance

D. Assigned Fund Balance

E. Unassigned Fund Balance

_____1. Amounts can only be spent for the specific purposes determined by a formal action of the government's highest level of decision-making authority.

_____2. Amounts can only be spent for the specific purposes stipulated by constitution, external resource provider or enabling legislation.

_____3. Residual classification of funds for the General Fund.

_____4. Dollar amount of Ending Inventory.

_____5. Amounts intended to be used by the government for specific purposes but do not meet the criteria of restricted or committed.

_____6. Dollar amount of endowment principal

Answer

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