The general fund classified under governmental funds…
A) Accounts for resources that are legally restricted so only earnings, not principal, may be expended, and for purposes to benefit the government and its citizenry.
B) Accounts for most of the basic services provided by the governmental unit.
C) Accounts for financial resources intended for major capital projects
D) Accounts for services provided by one department of a government to another

Question

Quizplus · Accepted Answer

The general fund accounts for most of the basic services provided by the government. It accounts for and reports all financial resources not accounted for and reported in another fund.

The General Fund Classified Under Governmental Funds…