The ______ Funds Are Used When Resources Are Provided Primarily

question 129

Multiple Choice

The ______ Funds are used when resources are provided primarily through the use of sales and service charges to parties external to the government and it is the intent of the government to measure revenues, expenses and changes in net position.

• A) Agency
• B) Enterprise
• C) General
• D) Special revenue

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Definitions:

Income Statement Expenditures

These are expenses reported on the income statement, including costs associated with the operations of a business, such as cost of goods sold, administrative expenses, and interest on debt.

Plant Assets

Long-term tangible assets used in the operation of a business that are subject to depreciation.

Natural Resources

Naturally occurring materials or commodities valuable to humans, such as water, minerals, and forests.

Plant Assets

Long-term tangible assets used in the operation of a business that are not intended for sale.