Fund accounting exists primarily to provide assurance that resources are used according to legal or donor restrictions.

Name: Fund accounting exists primarily to provide assurance that resources are used according to legal or donor restrictions.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Fund accounting allows governments to segregate resources that have restrictions or limitations on the use of those resources. Each fund can account for the receipt and use of resources to provide assurance of compliance with legal restrictions or limitations.

Fund Accounting Exists Primarily to Provide Assurance That Resources Are