USCPA每日一练之FAR【2015-12-2】

高顿网校2015-12-02 13:09Lynn.yu
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The Baker County Headstart fund, which is properly accounted for as a special revenue fund, overspent its available resources. The deficit in this fund would likely be displayed as:

a.Negative fund balance - restricted.

b.Due from the general fund.

c.Due from other governments - headstart.

d.Negative fund balance - unassigned.

Answer:D

Choice "D" is correct. If expenditures incurred for specific purposes exceed the amounts restricted, committed or assigned to those purposes, it may be necessary to report a negative unassigned fund balance.Choice "b" is incorrect. A deficit in a governmental fund would not necessarily guarantee a general fund subsidy.Choice "c" is incorrect. A deficit in a grant does not guarantee the ability to recoup overspent amounts from the grantor.Choice "a" is incorrect. Negative fund balances should not be displayed for restricted, committed, or assigned classifications.

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