Multiple Choice
With respect to Permanent Funds, which of the following is not true?
A) The principal is classified as Nonspendable Fund balance
B) Permanent Funds are included in the government-wide statements.
C) Permanent Funds are fiduciary funds and not reported in the government-wide statements.
D) Permanent Funds use the current financial resources measurement focus.
Correct Answer:
Verified
Correct Answer:
Verified
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