Multiple Choice
Which of the following statements is true?
A) Fund balances of debt service funds are classified among the categories identified in GASB Statement 54 as Restricted and Unrestricted.
B) The principal of permanent funds are classified as Nonspendable Fund Balance.
C) The fund balance of permanent funds should be classified as Nonspendable, Spendable and Committed.
D) All funds have an Unassigned Fund Balance.
Correct Answer:
Verified
Correct Answer:
Verified
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