True/False
When establishing funds, governments should attempt to minimize the number of special revenue and other funds, instead using functional classification to record transaction detail.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q66: Which of the following statements is false
Q67: If the government expects that a substantial
Q68: When would a special revenue fund be
Q69: Expenditures are generally recorded and fund liabilities
Q70: In the General Fund, revenues are recognized
Q72: When closing the General Fund and Special
Q73: Every general purpose government may have more
Q74: The General Fund accounts for any resources
Q75: Most interfund transfers are not eliminated in
Q76: The journal entry to record the budget