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Sig City used the following funds for financial reporting purposes: General fund Internal service fund Airport enterprise fund Pension trust fund Capital projects fund Special

Sig City used the following funds for financial reporting purposes:

  • General fund
  • Internal service fund
  • Airport enterprise fund
  • Pension trust fund
  • Capital projects fund
  • Special revenue fund
  • Debt service fund

How many of Sig's funds use the accrual basis of accounting? Which ones are they? Give a description of each of them.

A) 2

B) 3

C) 4

D) 5

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