The Board of Trustees decides to set aside $30,000 to consider purchasing additional land on the first day of the next fiscal year. What type of transfer is this?

Question

Quizplus · Accepted Answer

This is a discretionary (or nonmandatory) transfer because it is a planned and voluntary decision to allocate funds towards a specific purpose, rather than a requirement or restriction placed on the use of funds by external factors.

The Board of Trustees Decides to Set Aside $30,000 to Consider