Which of the following funds are governmental funds?
A) General Fund, special revenue funds, capital projects funds, debt service funds, and private-purpose trust funds.
B) General Fund, special revenue funds, private-purpose trust funds.
C) General Fund, special revenue funds, debt service funds, capital projects funds, and permanent funds.
D) General Fund, special revenue funds, capital projects funds, debt service funds, and internal service funds.

Question

Quizplus · Accepted Answer

The governmental funds are funds used to account for a government entity's general activities and services, including taxes, licenses, permits, fines, and intergovernmental revenues. The correct answer is C because it includes all five types of governmental funds, which are the General Fund, special revenue funds, debt service funds, capital projects funds, and permanent funds. Choice A includes a private-purpose trust fund, which is not a governmental fund. Choice B does not include all the types of governmental funds, and Choice D includes an internal service fund, which is not a governmental fund.

Which of the Following Funds Are Governmental Funds