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Not for Profit > Classification of funds > Flashcards

Classification of funds Flashcards

1
Q

INTERNAL SERVICE

A

PROPRIETARY

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2
Q

AGENCY

A

FIDUCIARY

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3
Q

SPECIAL REVENUE

A

GOVERNMENT

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4
Q

INVESTMENT TRUST

A

FIDUCIARY

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5
Q

CAPITAL PROJECTS

A

GOVERNMENT,

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6
Q

DEBT SERVICE

A

GOVERNMENT

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7
Q

PENSION TRUST

A

FIDUCIARY

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8
Q

PERMANENT

A

GOVERNMENT

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9
Q

ENTERPRISE

A

PROPRIETARY

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10
Q

PRIVATE PURPOSE TRUST

A

Fiduciary

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11
Q

Principal source of revenue legally mandated involuntary transaction

A

GOVERNMENT

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12
Q

Main reason for existence is creating wealth for shareholders

A

FOR PROFIT

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13
Q

An example of an entity of this is St Ignatius Church

A

NOT FOR PROFIT

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14
Q

Emphasizes Accountability and transparency

A

GOVERNMENT

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15
Q

Audited by SAIB

A

GOVERNMENT

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16
Q

Audited by PKF to determine how much dividends can declare

A

FOR PROFIT

17
Q

Audited by Moore as requirement of international donors

A

NOT FOR PROFIT

18
Q

Purpose to enhance or maintain the well-being of citizens

A

GOVERNMENT

19
Q

Principal source of revenue voluntary exchange between willing buyers and sellers

A

FOR PROFIT

20
Q

Budget legally authorizes the purpose for which resources are to be spent

A

GOVERNMENT

21
Q

Budget is internal financial management tool controlled entirely by management

A

FOR PROFIT

22
Q

Budget serves to show the proposed activities, funding sources, and target population for upcoming year

A

NOT FOR PROFIT

23
Q

Fund accounting most distinctive feature of those in this classification

A

GOVERNMENT

24
Q

Receive substantial revenue from non exchange transactions

A

GOVERNMENT

25
Q

Membership dues and donations comprises most of revenue source

A

NOT FOR PROFIT

Not for Profit (5 decks)

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