question archive Fund accounting is an important feature for governmental accounting

Fund accounting is an important feature for governmental accounting

Subject:AccountingPrice: Bought3

Fund accounting is an important feature for governmental accounting. A fund refers to an accounting entity with a self-balancing set of accounts for recording assets, liabilities, the fund balance, and changes in the fund balance. Specifically, general fund as a type of governmental funds is used to_______________.

Group of answer choices

Track resources earmarked for a specific purpose.

Designate funds which are obligated under a legal contract.

Track resources for routine ordinary activities of government.

Track resources available to pay interests and loans.

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE