Author Question: A city has only one special revenue fund. All the fund balance classifications that it reports have ... (Read 86 times)

joesmith1212 · **on:** Jul 5, 2018

A city has only one special revenue fund. All the fund balance classifications that it reports have positive balances. Which of the following fund balance classifications would not be reported by the city?

a. unassigned fund balance
b. assigned fund balance
c. committed fund balance
d. restricted fund balance

Question 2

Prepaid insurance and supplies are assets because they will provide benefits for more than one month.
a. True
b. False
Indicate whether the statement is true or false