If "rainy day" funds are available "in emergencies" or periods of "revenue shortfalls" they are not ordinarily classified as committed.

Question

Quizplus · Accepted Answer

The designation given for rainy day funds would be committed or less commonlyrestricted. Rainy day funds that are available "in emergencies" or in periods of "revenue shortfalls" would not be classified as committed unless the emergency or shortfall condition is specified and of a magnitude to distinguish it from events that occur routinely.

If "Rainy Day" Funds Are Available "In Emergencies" or Periods