Which of the following funds frequently does not have a fund balance?
A)General fund
B)Agency fund
C)Special revenue fund
D)Capital projects fund

Question

Quizplus · Accepted Answer

Agency funds are used to account for assets held temporarily by the government on behalf of others, such as taxes collected on behalf of another entity. As a result, these funds typically do not maintain a fund balance.

Which of the Following Funds Frequently Does Not Have a Fund