1. During the first year of a capital project to construct a new Village hall in 2022, the Village of Brownsville reported a negative fund balance on its capital projects fund balance sheet. The negative fund balance was due to construction expenditures being greater than grant revenues and bond issue proceeds. How should this negative fund balance be disclosed on the balance sheet of the capital projects fund at December 31 , 2022 ? A. Fund balance should be reported as restricted (deficit). B. Fund balance should be reported as committed (deficit). C. Fund balance should be reported as unassigned (deficit). D. Fund balance should be reported as assigned (deficit). 2. On the financial statements for a debt service fund, accrued but unmatured interest at year-end is reported as a(n) A. Expenditure on the statement of revenues, expenditures, and changes in fund balance. B. Liability on the balance sheet. C. AandB. D. Neither A nor B. 3. A private donor made a $500,000 gift to the Village of Golden Ridge in 2022. The donor stipulated that the gift be invested permanently and that earnings from the gift be used to award college scholarships to the top 10 seniors graduating from the Village's public high school. In which fund type should the Village report the gift? A. Permanent fund. B. Special revenue fund. C. General fund. D. None of the above