Which of the Following Is True Regarding Financial Reporting of Governmental

question 8

Multiple Choice

Which of the following is true regarding financial reporting of governmental funds?

• A) The Fund Balance of governmental funds reports fund balance as reserved and unreserved.
• B) Governmental funds include the General Fund, special revenue funds, capital projects funds, debt service funds, and permanent funds.
• C) Both A and B are true.
• D) Neither A nor B is true.

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