Author Question: Expenditures are defined as A. Costs expired. B. Uses of current financial resources. C. ... (Read 76 times)

HudsonKB16 · **on:** Jul 5, 2018

Expenditures are defined as

A. Costs expired.
B. Uses of current financial resources.
C. Decreases in net financial resources.
D. Changes in liabilities and deferred inflows.

Question 2

Which of the following is a distinguishing feature of a budget for a Capital Projects Fund?

A. The budget is usually for a single year.
B. A budget is not used for projects for which contracts will be issued.
C. The budget is usually for the term (life) of the project.
D. Since a Capital Projects Fund usually just spends money, there is no reason for revenue or other financing sources to be part of the budget.