Which of the Following Statements Is false

question 114

Multiple Choice

Which of the following statements is false?

• A) Unexpended intergovernmental grants and taxes dedicated to capital improvements in a capital projects fund are likely to be classified as Assigned Fund Balance
• B) The residual classification for funds other than the General Fund is Assigned.
• C) If a bond sinking fund is required by creditors or law, the unexpended resources would be classified as Restricted.
• D) The corpus principal) from a permanent fund should be classified as Nonspendable.

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Definitions:

Business Activities

Various actions undertaken by individuals or companies as part of commercial, industrial, or professional operations.

Mandated Boundaries

Defined limits set by authorities, regulations, or laws which individuals or organizations must operate within to ensure compliance and accountability.