A donation received is considered a voluntary nonexchange transaction only if it is unrestricted.
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Q17: If "rainy day" funds are available "in
Q18: $200,000 of unencumbered funds to be used
Q19: An exchange transaction is one where each
Q20: Rainy day funds are classified as restricted
Q21: Modified accrual accounting is essentially equivalent to
Q23: The GASB has created four "eligibility requirements"
Q24: Under the modified accrual basis, property taxes
Q25: The GASB has categorized nonexchange transactions into
Q26: When recording the budget, an excess of
Q27: The only difference between modified accrual accounting
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