Which of the Following Is Not for Capital Projects Funds

question 22

Multiple Choice

Which of the following is not for capital projects funds?

• A) Capital projects funds use a Construction Work in Progress account to record costs until the project is completed.
• B) Encumbrance accounting is generally used.
• C) Capital projects funds use the modified accrual basis of accounting.
• D) Capital projects funds have a project-life focus.

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Definitions:

Lineal Descendants

Direct blood relatives in the direct line of descent, such as children, grandchildren, and great-grandchildren.

Issue

Can denote a problem, question, or matter that is in dispute or needs to be resolved.

Right of Survivorship

A legal principle that ensures property ownership transfer directly to a surviving co-owner or partner without the need for probate upon one's death.

Property Distribution

The division of assets, often occurring in legal contexts such as divorce or estate settlement.