Question
Please select one statement that does not show proper functions and/or roles of the fund used by a government. 1. Special revenue fund accounts sources
Please select one statement that does not show proper functions and/or roles of the fund used by a government.
1. | Special revenue fund accounts sources that are legally constrained by the government to b used only for a particular purpose. | |
2. | Pension trust fund accounts for money set aside for the retirement benefits of government employees. | |
3. | Proprietary funds are used for the basic activities of government like police protection.
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4. | Capital project funds are governmental funds, which accounts for the construction and rehabilitation of long-lived assets like roads and bridges. | |
5. | General fund accounts for all governmental activities not accounted for in another fund. |
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