In Which Fund Type Would a Governmental Entity's Capital Project

question 28

Multiple Choice

In which fund type would a governmental entity's capital project fund be found?

• A)Governmental fund type.
• B)Proprietary fund type.
• C)Fiduciary fund type.
• D)Capital project fund type.

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Definitions:

Allowance Account

An account used to adjust the carrying value of accounts receivable to the amount expected to be collected.

Contra Account

An account used in conjunction with another account to adjust or offset its balance.

Allowance Account

An account set aside to cover potential losses from doubtful accounts, reflecting estimated uncollectible receivables.

Statement of Financial Position

A financial report detailing a company's assets, liabilities, and equity at a specific point in time, commonly known as a balance sheet.