MSB GovNFP Unit 4
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| What is an internal exchange transaction? | show 🗑
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| What is fund equity? | show 🗑
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| show | A short term loan used to meet the working capital needs of a government before revenues are received.
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| What is a nonexchange transaction? | show 🗑
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| Name two types of derived tax revenues. | show 🗑
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| show | Once it is known that the budget and actual revenues and expenditures are greatly varied or estimated incorrectly, increases or decreases to the budget should be entered similarly to the entry of the original budget.
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| show | Supplies
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| show | General Fund Ledger, Expenditures Ledger, Governmental Activites
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| show | It must be large enough so that the collectable portion equals the needed revenue from the source.
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| If property tax revenue needed is $3,500,000 and only 95% is collectible, what should the gross tax levy be? | show 🗑
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mkmiller80
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