The general fund is used to carry out the general purposes of the federal government, rather than being restricted by law to a specific program.

Question

Quizplus · Accepted Answer

The general fund comprises the greater part of the federal budget. It is used to carry out the general purposes of the federal government, rather than being restricted by law to a specific program. It consists of all collections not dedicated by law to finance other funds, including virtually all income taxes and many excise taxes, and all expenditures financed by these collections and by general U.S. Treasury borrowing.

The General Fund Is Used to Carry Out the General