Homework SourseWhich of the following are classifications used for governme
Which of the following are classifications used for governmental fund balances? (select all that apply)
Unrestricted
Restricted
Committed
Assigned
Spendable
Pledged
Nonspendable
Designated
| A. | Unrestricted | |
| B. | Restricted | |
| C. | Committed | |
| D. | Assigned | |
| E. | Spendable | |
| F. | Pledged | |
| G. | Nonspendable | |
| H. | Designated |
Solution
Unrestricted
Restricted
Assigned
because....
Governmental Fund Classification related to expenditures in Balance Sheet are reflecting in the equity side under the heading of Employement Insurance contribution, contribution workd compensation board, contribution to non-autonomous plans etc. that following fund allocated for specific exp.
| A. | Unrestricted | |
| B. | Restricted | |
| D. | Assigned | |
