According to GASB, which of the following is an example of a nonspendable fund balance?

Question

Quizplus · Accepted Answer

Inventories and prepaid items typically appear in government funds because they are current assets. These resources are nonspendable because they are used in operations rather than converted to cash. The principal corpus) of a permanent fund that may not be spent, but is required by its donor to be maintained would be classified as nonspendable.

According to GASB, Which of the Following Is an Example