When a city received a county grant designated for providing food and other assistance to the homeless, the money should have been recorded in
A) The General Fund.
B) An Expendable Trust Fund.
C) A Capital Projects Fund.
D) An Agency Fund.
E) A Special Revenue Fund.

Question

Quizplus · Accepted Answer

The grant is designated for a specific purpose (providing food and assistance to the homeless), which fits the criteria for a Special Revenue Fund, used to account for revenue from specific sources that are legally restricted to expenditure for specified purposes.

When a City Received a County Grant Designated for Providing