Which of the Following Statements Is correct

Multiple Choice

Which of the following statements is correct?

A) All the expenditures of a capital project fund are for capital assets and are recorded as restricted fund balance in the fund-basis statements.
B) The principal of a permanent fund is classified as nonspendable fund balance.
C) Long-term assets are depreciated in the capital projects fund.
D) Interest on bonds issued for a school building would be paid by the capital projects fund.