Which of the following statements is false?
A) The corpus (principal) from a permanent fund should be classified as Nonspendable.
B) Unexpended intergovernmental grants and taxes dedicated to capital improvements in a capital projects fund are likely to be classified as Assigned Fund Balance
C) The residual classification for funds other than the General Fund is Assigned.
D) If a bond sinking fund is required by creditors or law, the unexpended resources would be classified as Restricted.
Correct Answer:
Verified
Q66: With respect to Capital Projects Funds, which
Q67: When taxes and/or special assessments are levied
Q69: With respect to Permanent Funds,which of the
Q69: Which of the following statements is true?
A)
Q72: Which of the following statements is false?
A)
Q73: An encumbrance in a capital project fund
Q74: Which of the following is a major
Q75: When a government acquires general fixed assets
Q76: Budgets are typically recorded for which of
Q79: Which of the following funds typically record
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