Author Question: The Board of Commissioners took formal action to dedicate resources for a particular project in the ... (Read 54 times)

Yi-Chen · **on:** Jul 5, 2018

The Board of Commissioners took formal action to dedicate resources for a particular project in the Capital Projects Fund. Those resources cannot be redirected for another use unless an equivalent formal action is taken.

As of the end of the fiscal year, a portion of these resources remain in fund balance. The proper fund balance classification for these resources would be
A. Nonspendable.
B. Restricted.
C. Committed.
D. Assigned.

Question 2

An other postemployment benefit plan where assets have been placed in trust would be reported as

A. A Permanent Fund.
B. An Agency Fund.
C. Part of the General Fund.
D. As a Pension and Other Employee Benefit Trust Fund.