4. \"Unrestricted fund balance\" belongs on the: A) balance sheet. B) statement

Question

4. "Unrestricted fund balance" belongs on the: A) balance sheet. B) statement of revenue and expenses. C) both the balance sheet and statement of revenue and expense D) None of these is correct. 5. "Net increase (decrease) in cash and cash equivalents" belongs A) balance sheet B) statement of revenue and expenses. C) both the balance sheet and statement of revenue and expenses D) None of these is correct. 6. "Proceeds from loan for equipment belongs on the: A) balance sheet. B) statement of revenue and expenses C) both the balance sheet and statement of revenue and expenses. D) None of these is correct. 7. The four major reports are the balance sheet, the statement of rev changes in fund balance/net worth, and the cash flow statement. True or False

Explanation / Answer

4 Answer :- A) Balance Sheet

Explanation :- Unrestricted Fund balance is the position of that total fund balance that is not restricted there ways. Funds Balance is the difference of available fund after accounting for government assets (-) it's liabilities and deferred outflows.

5 Answer:- D) None of there is correct

Explanation:-Net Increase (decrease) in cash and cash equivalentines belongs to the Cash Flow Statement. It is the sum total of all the three cash activities in cash flow statement that is Cash Flow from Operating Activities, Cash Flow from investing activities and Cash Flow from Financing Activities.

6 Answer:- D) None of these is correct

Explanation :- Loans proceeds are not income it should not directly affected the Net income and shod not be included in the statement of revenue and expenses. When the business repays the loan or a porton of it, therefore the payment does not result to an expense. When money are taken from the business for reduction ofor loan, it is known as repaymentioned of loan and does amount to an expense. It belongs to Cash Flow Statement.

7 Answer:- True.

Explanation:- The four major reports invalved in preparation of Financial Statements are balance sheet, Statement of revenue and expensesee, Statement of changes in fund balance / Net worth and Cash flow statement

Related Questions

Navigate

• Browse (All)
• Browse 4
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.