Multiple Choice
Which of the following statements is false?
A) Resources representing supplies and prepaid items are classified in governmental funds as Nonspendable Fund balance.
B) Capital Projects, debt service and permanent funds do not typically record budgets.
C) Debt service and permanent funds do not record encumbrances.
D) Principal of permanent funds is classified as Committed Fund Balance
Correct Answer:
Verified
Correct Answer:
Verified
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