Hannah Township Has a General Fund, Two Capital Projects Funds

question 17

Multiple Choice

Hannah Township has a General Fund, two Capital Projects Funds, one Permanent Fund, two Enterprise Funds, two Internal Service Funds, three Pension Trust Funds, and one Private-Purpose Trust Fund. Assuming all governmental and enterprise funds meet the major fund criteria, how many columns will the proprietary fund statement of net position have?

• A) Two (2).
• B) Three (3).
• C) Four (4).
• D) Five (5).

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Definitions:

Reconstruction Finance Corporation

A government corporation in the United States created by Congress in 1932 to provide financial support to state and local governments and make loans to banks, railroads, mortgage associations, and other businesses.

Federal Loans

Long-term borrowing provided by the federal government to support students, businesses, and other entities, often with favorable terms.

Insurance Companies

Organizations that provide financial protection against specified risks in exchange for premiums.

Hoover's Approach

The strategies and policies employed by President Herbert Hoover aimed at combating the Great Depression, often criticized for being ineffective.