Question

1. Governments have both expenses and expenditures.   
   What is the difference between these two terms? Give an example to help us understand.    
   What is a special revenue fund? For what purpose are these used?

2. Please give at least one APA references

Answer 1

1) An Expense is reported on the income statement. An expense is a cost that has expired or was necessary in order to earn the revenues during the time period indicated in the heading of the income statement.

For example, the cost of the goods that were sold during the period are considered to be expenses along with other expenses such as advertising, salaries, interest, commissions, rent, and so on.

An Expenditure is a payment or disbursement. The expenditure may be for the purchase of an asset, a reduction of a liability, a distribution to the owners, or it could be an expense. For instance, an expenditure to eliminate a liability is not an expense, while expenditures for advertising, salaries, etc. will likely be recorded immediately as expenses.

simply An expense is reported on financial statements. It is funds that have been spent usually to ensure revenues will be earned during a time period. Examples of expenses that ensure the continuance of revenue include rent, salaries, parts, etc. Expenditure is a payment.

Special revenue fund

A special revenue fund is an account established by a government to collect money that must be used for a specific project. Special revenue funds provide an extra level of accountability and transparency to taxpayers that their tax dollars will go toward an intended purpose.

Example of a Special Revenue Fund

A city might establish a special revenue fund to pay expenses associated with stormwater management. The money in this fund could only be used for stormwater management costs, such as street sweeping, drain and ditch cleaning, system maintenance, and a public awareness campaign. The city would be required to publicly report on where it collected the special revenue fund money from and how it spent the special revenue fund's budget.

2) Sorry i don't know what APA full form.so i am unable to answer this requirement .