Which of the Funds Listed Below Would Include Capital Assets

question 85

Multiple Choice

Which of the funds listed below would include capital assets in its Statement of Net Position?

• A) Permanent.
• B) Special Revenue.
• C) Internal Service.
• D) None of the above; no funds in governmental accounting have capital asset accounts.

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Definitions:

Interest Earned

The income received from lending funds or depositing money into interest-bearing accounts.

Invested

To have allocated resources, such as money, toward something with the expectation of generating income or profit.

Deposited

The act of placing money or another form of value into an account.

Interest

The cost of borrowing money or the payment received for deposit funds, calculated as a percentage of the principal.