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:

Lease Agreement

A contract outlining the terms under which one party agrees to rent property owned by another party.

Customer List

An asset consisting of the information about customers that a business uses for marketing, sales, and other strategic purposes.

Database

A systematic collection of data, organized so that it can easily be accessed, managed, and updated.

Trademark

A recognizable sign, design, or expression that identifies products or services of a particular source from those of others.