Which of the following is false with respect to Special revenue funds?
A) Resources appropriately reported within proprietary or fiduciary funds are excluded from special revenue funds.
B) A special revenue funds would be used to account for taxes which are required by state law to be used by the government to support specific activities.
C) Special revenue funds may be used for any designated purpose to segregate revenues and ensure compliance with restrictions.
D) None of the above
Correct Answer:
Verified
Q42: Regarding interfund transactions, which of the following
Q43: The journal entry to record the prior
Q44: Which of the following is an interfund
Q45: The purpose of fund accounting is to
Q46: GASB standards provide particular guidance for the
Q48: The journal entry to record the re-establishment
Q49: When establishing funds, governments should never attempt
Q50: Which of the following statements is not
Q51: Special revenue funds are not used if
Q52: The journal entry to record an encumbrance
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