Multiple Choice
Which of the following statements is false?
A) Supplies and prepaid expenses 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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