Which of the following statements is false?
A) Resources representing supplies and prepaid items are classified in governmental funds as Nonspendable Fund balance.
B) Capital Projects, debt service and permanent funds do not typically record budgets.
C) Debt service and permanent funds do not record encumbrances.
D) Principal of permanent funds is classified as Committed Fund Balance
Correct Answer:
Verified
Q62: Budgets are typically recorded for which of
Q63: Debt service funds may be required to
Q64: Debt service funds are created for debt
Q65: Debt service funds are used to account
Q66: With respect to Capital Projects Funds, which
Q68: Taxes or other revenues raised specifically for
Q69: Which of the following statements is true?
A)
Q70: Which of the following is a source
Q71: Grants, entitlements, or shared revenues received by
Q72: Capital outlay expenditures of a capital projects
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