Which of the following statements is true?
A) Fund balances of debt service funds are classified as Restricted and Unrestricted.
B) The fund balance of permanent funds should be classified as Nonspendable, Spendable and Committed.
C) The principal of permanent funds are classified as Nonspendable Fund Balance.
D) Any governmental fund may have an Unassigned Fund Balance
Correct Answer:
Verified
Q64: Debt service funds are created for debt
Q65: Debt service funds are used to account
Q66: With respect to Capital Projects Funds, which
Q67: Which of the following statements is false?
A)
Q68: Taxes or other revenues raised specifically for
Q70: Which of the following is a source
Q71: Grants, entitlements, or shared revenues received by
Q72: Capital outlay expenditures of a capital projects
Q73: An encumbrance in a capital project fund
Q74: Encumbrance accounting is only typically used for
A)
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