Multiple Choice
Which of the following statements is false?
A) Intergovernmental grants and taxes dedicated to capital improvements in a capital projects fund are likely to be classified as Assigned Fund Balance.
B) The corpus (principal) from a permanent fund should be classified as Nonspendable.
C) The residual classification for funds other than the General Fund is Assigned.
D) If a bond sinking fund is required by creditors or law, the unexpended resources would be classified as Restricted.
Correct Answer:
Verified
Correct Answer:
Verified
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