A city government collects local sales taxes legally restricted to pay for the construction of a new courthouse. Which fund should account for the receipt of the sales taxes?
A) Special revenue fund
B) Capital projects fund
C) Private-purpose trust fund
D) General fund
Correct Answer:
Verified
Q90: According to the GASB, Capital assets:
A) must
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A) current financial resources
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Q94: GASB Concepts Statement No. 3, defines methods
Q96: A city government collects local sales taxes
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Q98: Which of the following is correct regarding
Q99: Under GASB, accrual accounting is used for:
A)
Q100: Governmental funds do not include:
A) Special revenue
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