Assume That a Debt Service Fund Does Not Have Nonspendable

question 33

Multiple Choice

Assume that a Debt Service Fund does not have nonspendable fund balance. Further, assume that total fund balance is less than the sum of restricted and committed levels of fund balance. This deficit should

• A) Be reported as negative assigned fund balance.
• B) Be reported as a negative unassigned fund balance.
• C) Be reported as a negative nonspendable fund balance.
• D) Be netted against the positive committed fund balance.