Ask Question
BusinessBusiness
22 April, 03:29

Which of the following is correct with respect to rainy day funds? Multiple Choice Rainy day funds are classified as committed or restricted if imposed externally or by law. Rainy day funds are classified as unassigned if the funds are available for emergencies or revenue shortfalls which may be accessed on an ongoing basis. Both of the choices are correct. Neither of the choice is correct.

+5
Answers (1)
  1. 22 April, 07:05
    0
    The correct answer is letter "A": Rainy day funds are classified as committed or restricted if imposed externally or by law.

    Explanation:

    Rainy day funds refer to reserves of resources states keep in case of emergencies or budget shortfalls. These funds are reserved for periods when revenues do not meet expectations and expenditures are higher. Rainy day funds are also used when the state should not incur debt because its financial situation is not optimal.

    Rainy days are classified as committed if created by resolution and, in such cases, the purpose of those funds is specified.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following is correct with respect to rainy day funds? Multiple Choice Rainy day funds are classified as committed or ...” 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
An investor is comparing two bonds of similar structure from the same issuer. Which bond should the investor buy? a. the bond maturing last as that has the lowest risk b. the bond with the highest price as that offers the highest return c.
Answers (1)
In the United States, the cost of the correctional system is over $34 billion dollars each year. A. True B. False
Answers (1)
John Porter is an hourly employee of Motter Company located in New York City. This week, Porter had to travel to the company's regional office in Albany. He left Sunday at noon and arrived in Albany at 3:00 P. M.
Answers (1)
In reality, ethical behavior depends on the situation. For example, in negotiating a contract with your employees, the way they win higher wages is by your losing the fight to hold down labor costs. You realize it is a win-lose relationship.
Answers (1)
Which document establishes an initial record of the receipt of the inventory? petty cash voucher purchase order vendor's invoice receiving report?
Answers (1)
New Questions in Business
Stock dividends Select one: a. Have the same effects on financial statements as cash dividends. b. Are similar to stock splits in that they do not change the fundamental position of current shareholders. c. Must be accompanied by cash dividends. d.
Answers (1)
What is the current u. s. population? what is the current world population? considering those numbers, do you think the united states is in a population crisis? do we have enough land and resources to support a continuous increase in population?
Answers (1)
Distinguish between individual and market demand for a commodity
Answers (1)
What type of driver's license is class A
Answers (2)
Amalgamation can be expressed as A+B+C=A True Or False ?
Answers (2)
Home » Business » Which of the following is correct with respect to rainy day funds? Multiple Choice Rainy day funds are classified as committed or restricted if imposed externally or by law.
Sign Up Forgot Password?