Funds that are used to account for and report on financial resources that are restricted.Select one:a.Permanent Fundsb.Debt Service Fundsc.Capital Projects Fundsd.Special Revenue Funds
Question
Funds that are used to account for and report on financial resources that are restricted.Select one:a.Permanent Fundsb.Debt Service Fundsc.Capital Projects Fundsd.Special Revenue Funds
Solution
The correct answer is d. Special Revenue Funds. These funds are used to account for and report on financial resources that are restricted, committed, or otherwise limited to specific purposes, other than debt service or capital projects.
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