Recreational facilities operated by a governmental entity and financed solely by user charges are accounted for in:

Question

Quizplus · Accepted Answer

Recreational facilities operated by a governmental entity and financed solely by user charges are accounted for in an enterprise fund. Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business enterprises, where the intent is that the costs of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges.

Recreational Facilities Operated by a Governmental Entity and Financed Solely