Regarding Capital Projects Funds, which of the following is incorrect? A. Taxes or other revenues raised specifically for a capital project are recorded as transfers in the capital projects fund.

B. Capital outlay expenditures result in additions to the governmental fixed assets reported in the government-wide Statement of Net Position.

C. Expenditures of capital projects funds are reported in the capital outlay character classification in the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances.

D. Grants, entitlements or shared revenues received by a capital projects fund from another governmental unit are considered revenues of the capital projects fund, as is interest earned on temporary investments of the capital projects fund.