Generally, annual budgets are recorded within the following funds:
A) General fund and special revenue funds.
B) Capital projects funds and debt service fund.
C) Enterprise funds and internal service funds.
D) General Fund and Pension Trust Fund.
E) Agency Funds and General Fund.

Question

Quizplus · Accepted Answer

The general fund is the main operating fund for a government entity and covers most of its day-to-day operations. Special revenue funds are used to account for specific revenue sources that are restricted for certain purposes, such as grants or fees for a particular service. These two funds are the most commonly used funds for recording annual budgets in government accounting.

Generally, Annual Budgets Are Recorded Within the Following Funds