A Permanent Fund Classified Under Governmental Funds…

question 103

Multiple Choice

A permanent fund classified under governmental funds…

• A) Accounts for resources that are legally restricted so only earnings, not principal, may be expended, and for purposes to benefit the government and its citizenry.
• B) Accounts for most of the basic services provided by the governmental unit.
• C) Accounts for financial resources intended for major capital projects
• D) Accounts for services provided by one department of a government to another

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Misappropriation

The unauthorized, improper, or unlawful use of funds or resources, especially for personal benefit.

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