GASB Requires Enterprise Funds to Be Used Under Which of the Following

question 115

Multiple Choice

GASB requires enterprise funds to be used under which of the following circumstances?

• A) When the legal requirement exists that the cost of providing services for an activity, including capital costs, be recovered through fees or charges.
• B) When debt is backed solely by fees and charges.
• C) When a government has a policy to establish fees and charges to cover the cost of providing services for an activity.
• D) All of the above.

---

Definitions:

Actively Participate

To take part in an activity or event in a way that involves engagement, contribution, or involvement.

Stimulation

The encouragement of development or increased activity in oneself or others, often through external inputs or environments.

Ambiguous

Something that can be understood in more than one way; lacking clearness or definiteness.

Artistic Temperament

A personality profile often associated with creativity and emotionality, suggesting variability in mood and behavior among those engaged in artistic endeavors.