Multiple Choice
Which of the following is true regarding the use of Special Revenue Funds?
A) Special Revenue Funds may be used whenever a government wishes to segregate income for specific purposes.
B) Assigned resources may be accounted for in a Special Revenue Fund.
C) Special Revenue Funds may only be used when a substantial portion of the resources are provided by restricted or committed revenue sources.
D) Once a Special Revenue Fund is established, it will continue to be a Special Revenue Fund until all resources are exhausted.
Correct Answer:
Verified
Correct Answer:
Verified
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