5. Seventy percent (70%) of all categorical grants are: Project grants Formula grants Part formula and...

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5. Seventy percent (70%) of all categorical grants are: Project grants Formula grants Part formula and...

5. Seventy percent (70%) of all categorical grants are:

Project grants
Formula grants
Part formula and project grant
Block grant

_______6. An Enterprise Fund is an example of a:

General Fund
Fiduciary Fund
Proprietary fund
Special Fund

business finance

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Answer 1

Answer #1

5. Answer- option (c)

Federal grants are considered as block grants. These are non project grants given by the federal government.
But categorical grants are either distributed through project or part formula grant. Project grant funding is given to help subsidize a specific service for a specified period of time. Formula grant is used to subsidize particular group of people like low income group.

6. Answer- option (c)

Enterprise fund is categorised under proprietary fund. Basically proprietary fund is classified as enterprise fund and internal service fund.
Enterprise fund is funded with debt which is secured by pledge of net proceeds.

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Answer 2

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