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goji.go goji.go
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9 years ago
A Capital Projects Fund has outstanding encumbrances of $75,000 as of the end of the fiscal year. Assume that all resources in the Capital Projects Fund are considered to be restricted. How should these encumbrances be reported in the year-end external financial statements?
A.   As a specific identifiable component of restricted fund balance.
B.   As a specific identifiable component of committed fund balance.
C.   As a specific identifiable component of assigned fund balance.
D.   The encumbrances would only be reported in the note disclosures.
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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9 years ago
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goji.go Author
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#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
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#3
9 years ago
You're very welcome!
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