Ask Question
BusinessBusiness
5 September, 00:48

The General Fund

-Is used to account for all financial resources that are not required to be accounted for in another fund.

-Is used by all governments that report governmental fund activities.

-Is established at inception of a government and exists throughout its life.

- All of the above.

+4
Answers (1)
  1. 5 September, 01:20
    0
    The correct answer is - Is used to account for all financial resources that are not required to be accounted for in another fund.

    Explanation:

    The general fund is established at the beginning of a government and continues to exist throughout its duration. In a recently organized government; General fund accounting begins as soon as the budget is adopted and all the necessary appropriations to comply with the government plan are recorded.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The General Fund -Is used to account for all financial resources that are not required to be accounted for in another fund. -Is used by all ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Eff wants to switch mobile phone carriers, but is concerned that if he switches, he may have to compare all the different carriers' calling plans again if he experiences a lot of "dropped calls" with his new provider.
Answers (1)
A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On November 6 they purchased 6 units at $25 each. On November 8, 8 units were sold for $55 each.
Answers (1)
Allstate shipping body forklift for $20,000. It is expected to have a five-year useful life and trade in value of $2,000. Prepare a depreciation schedule for this asset by using the double declining balance method.
Answers (1)
Psychological research involves studying a sample of participants in order to draw conclusions about the population from which the sample is drawn. this is an example of
Answers (1)
Why is investing important in an economy? A. prevents people from spending money on things they can't afford B. provides money for machinery, tools, and equipment for growth C. offers interest rates that don't change D. carries no risk of loss E.
Answers (1)
New Questions in Business
You are at a wedding and are unexpectedly asked to give a toast to the bride and groom. What would you do?
Answers (1)
The fundamental relationship between savings and investment spending in an economy is that: A. savings will increase as investment spending decreases. B. investment spending and savings are always equal. C.
Answers (1)
The best explanation of why Gulf airlines are giving U. S. legacy carriers stiff competition is that the Gulf carriers: A. offer more special deals to business travelers than do the U. S. legacy carriers. B. have taken advantage of U. S.
Answers (1)
It costs Fortune Company $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A foreign wholesaler offers to purchase 1,000 scales at $15 each.
Answers (2)
An American manufacturer has been asked to provide construction equipment to a foreign government. The contract is for a sizable amount, so the manufacturer wants to protect itself should the foreign government refuse to pay for the equipment once
Answers (1)
Home » Business » The General Fund -Is used to account for all financial resources that are not required to be accounted for in another fund. -Is used by all governments that report governmental fund activities.
Sign Up Forgot Password?