Regarding Capital Projects Funds, Which of the Following Is incorrect

question 127

Multiple Choice

Regarding Capital Projects Funds, which of the following is incorrect?

• A) Expenditures of capital projects funds are reported in the capital outlay character classification in the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances.
• B) Capital outlay expenditures result in additions to the governmental fixed assets reported in the government-wide Statement of Net Position.
• C) Taxes or other revenues raised specifically for a capital project are recorded as transfers in in the capital projects fund.
• D) Grants, entitlements, or shared revenues received by a capital projects fund from another governmental unit are considered revenues of the capital projects fund, as is interest earned on temporary investments of the capital projects fund.

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