In Governmental Accounting,a Fund Is Best Defined As

question 46

Multiple Choice

In governmental accounting,a fund is best defined as:

• A)a sum of cash set aside to attain certain objectives
• B)a fiscal entity that has both financial and capital resources
• C)a fiscal entity that has cash resources only
• D)a fiscal and accounting entity with a self-balancing set of accounts

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Definitions:

Science

The systematic study of the structure and behavior of the physical and natural world through observation and experiment.

Gibbons v. Ogden

A landmark 1824 Supreme Court case that held the power to regulate interstate commerce was granted to Congress by the Commerce Clause of the U.S. Constitution.

Commerce

Trade among the several states or between any foreign country and any state or territory.

Congress

The national legislative body of the United States, consisting of the Senate and the House of Representatives.