GASB Statement 34 Requires Enterprise Funds to Be Used Under

Multiple Choice

GASB Statement 34 requires enterprise funds to be used under which of the following circumstances?

A) When debt is backed by the full faith and credit of the government issuing it.
B) When the legal requirement exists that the cost of providing services for an activity, including capital costs, be recovered through fees or charges.
C) When a government is restricted by grant covenants to cover the cost of providing services for an activity.
D) None of the above circumstances would require the use of an enterprise fund.