Which of the Following Is Not Considered a Governmental Fund

question 20

Multiple Choice

Which of the following is not considered a governmental fund?

• A) General Fund.
• B) Debt Service Fund.
• C) Permanent Fund.
• D) Internal Service Fund.

---

Definitions:

Income Statement

A financial statement that shows a company's revenues, expenses, and net income over a specific period.

Balance Sheet

A financial statement that shows the assets, liabilities, and shareholders' equity of a company at a specific point in time.

Dollar-Value LIFO Retail Inventory Method

A method for valuing inventory that combines the last-in, first-out (LIFO) principle with dollar values, adjusting for changing prices and inventory levels.

Price Index

A statistical measurement that shows changes in the price level of goods and services over time, indicating inflation or deflation.