The meaning of the term “fund” depends on the contextin which it is used. Explain its meaning when used as anoun. Explain its meaning when it is used as a verb.

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: Briefly discuss the significance of the Trust Fund Doctrine.

A: Trust fund doctrine is a principle of judicial invention which says that corporate assets are held…

Q: budgetary

A: Budgetary accounts can be defined as those accounts which are prepared in order to reflect the…

Q: Which of the following is an example of an interactivity transaction?a. Money is transferred from…

A: Interactivity transactions:   The transactions which occur between the government funds and the…

Q: Finance is the efficient acquisition, allocation, and utilization of funds. Briefly discuss each…

A: Finance is all about the acquisition of funds in the most optimal manner, then allocating the…

Q: hat does the term "miscellaneous expenditure" mean?

A: Miscellaneous Expenditure: These are the expenditure that are allowances for government services,…

Q: Define Charitable remainder trust.

A: Trust: Trust is normally created by the decent person that establishes a trust that holds the…

Q: fill in the blanks Revenues are monies an organization received in exchange for ________ and…

A: SOLUTION REVENUE = PRICE OF GOODS & SERVICES * NO OF UNITS SOLD OR NO OF CUSTOMERS.

Q: What is Remittances, use information in the text to support your claim.

A: Remittances derives from the word remit which means " to send back " . It is a sum of money sent by…

Q: What are regulatory accounting principles and how do they relate to enterprise fund accounting?

A: Regulatory Accounting Principles or Procedures, often abbreviated to the RAP, are particular…

Q: mechanism ensure that funds have been properly allocated and spent

A: Proper Allocation of Funds: Proper allocation of fund is very important for the effective and…

Q: Explain the distinction/s between custodial funds and trust funds. What financial statements…

A:

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: Define the term revenue recognition.

A: Accounting principle: These are the guidelines which are to be applied while preparing the…

Q: Is there a connection between regulatory accounting and enterprise fund accounting

A: This is a set of accounting rules that only apply to a particular firm known as the RAP. Federal…

Q: What is non-posted interest on statements? Please explain.

A: The answer is stated below:

Q: financial plan which serves as a framework of accounts A. Appropriation act B. Budget C.…

A: Introduction:- A financial plan is the heart of any business. It gives clear financial picture of…

Q: Describe the Fundamental Issues Related to Recognizing Revenue.

A: Revenue Recognition: Revenue recognition refers to the principle which tells about the conditions…

Q: What is net interest? Identify the elements of net interest and explain how they are computed.

A: Net interest- Net interest typically is the difference between the interest earned by the…

Q: Show the treatment of items of Income and Expenditure Account whenthere is a specific fund for those…

A: There are various sources of receipts like donations, subscriptions and government grants. Donations…

Q: What are the differences between a devise, a legacy, and a bequest?

A: Will:   A will is a statement made in the lifetime of the person. In his or her will, a person…

Q: give practical examples.

A: Appropriation account: Appropriation account is a account prepared for the partnership firm and…

Q: Explain the different types of funds categories?

A: Funds can be defined as the pool of money from an individual, company, or cooperation that is…

Q: What type of basis is it called when we report only the amounts actually collected and/or spent?

A: There are two methods of accounting. One is cash basis and other is accrual basis.

Q: hat is the purpose of valuation in t

A: Introduction : The fund raising refers to the process conducted by one entity of borrowing funds…

Q: Explain the accounting for funds received by an organization acting as an agent, a trustee, or an…

A: Contribution:  The contribution is an act or payment apportion for a special purpose. It is a…

Q: ow core deposits and purchased funds work ?

A: Commercial banks: It is the financial institution that accepts deposits from the public and gives…

Q: explaining the various items that are considered as sources and applications  of fund while…

A: Fund flow statement is a statement prepared to know the reason for change in the financial statement…

Q: What is the person or institution that invest or make fund available?

A: An investor is a person or other entity (such as a company or mutual fund) who invests money in the…

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: appropriation account?

A: Appropriation represents the profit distribution of the company for shareholders and reserves.

Q: Which one of the following is a revenue expenditure?

A: Revenue expenditure: It refers to the amount spent on normal maintenance and repairs of fixed assets…

Q: What are types of activities are reported in Custodial Funds?

A: Custodial funds Custodial funds are classified as fiduciary funds under GASB rules when they are not…

Q: Distinguish among appropriation, expenditures, encounters, encumbrance, and expenses

A: It is the money set aside by the company in order to meet the necessities of the business…

Q: What is expenditure? explain types of expenditure?

A: Payments or liabilities incurred in exchange for goods or services are referred to as expenditures.…

Q: Distinguish amongoperating, investing,and financing activities

A: The liquidity position of a company shows its ability to pay short-term financial obligations. It…

Q: Does a trust have to have assets? – Explain

A: Meaning of Trust Trusts are one of the major forms of organization for federal tax purposes, along…