Because a Fund Is an Accounting Entity,each Fund Has

question 21

Multiple Choice

Because a fund is an accounting entity,each fund has
I.its own accounting equation.
II.its own journals,ledgers,and other accounting records.
III.its own separate auditor.

• A)I only
• B)II only
• C)I and II
• D)I,II and III

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Definitions:

Turgor

Pressure that a fluid exerts against a structure that contains it.

Hypertonic

A solution having a higher concentration of solutes compared to another solution, resulting in the movement of water out of a cell if placed in such a solution.

Hypotonic

Describes a fluid that has a low overall solute concentration relative to another fluid.

First Law of Thermodynamics

A principle stating that energy cannot be created or destroyed, only transformed or transferred, in a closed system.