Under GASB standards which of the following funds can report a positive amount for unassigned fund balance?
A) Capital projects fund.
B) Special revenue fund.
C) General Fund.
D) All of the options.

Question

Quizplus · Accepted Answer

Under GASB standards, the General Fund can report a positive amount for unassigned fund balance. This indicates that the fund has available resources that have not been allocated to a specific purpose. Capital projects fund and special revenue funds are restricted in their use of funds, so they cannot report a positive unassigned fund balance.

Under GASB Standards Which of the Following Funds Can Report