Which of the following is a governmental fund that uses the current financial resources measurement focus?
Return to CHAPTER 80
Click here if you would like to print a PDF Version of this document.Return to CHAPTER 80Which of the following fund types uses the current financial resources measurement focus?Governmental funds use the current financial resources measurement focus, and proprietary and fiduciary funds use the economic resources measurement focus.
What is the governmental fund measurement focus?Current Financial Resources Measurement Focus
Measures cash or assets that are expected to be converted to cash within or shortly after the accounting period. Measures whether the financial resources obtained during the accounting period are sufficient to cover claims against the fund during that period.
Which of the following fund types has an economic resources measurement focus and uses the full accrual basis of accounting?Custodial Funds
These funds are accounted for using the accrual basis of accounting and use the economic resources measurement focus.
Which of the following funds are governmental funds?The governmental funds category includes the General Fund, special revenue funds, debt service funds, capital projects funds, and internal service funds.
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