Question
The following are names of funds encountered in governmental reports and the purposes for which these funds have been established. Indicate the corresponding fund type
The following are names of funds encountered in governmental reports and the purposes for which these funds have been established. Indicate the corresponding fund type recommended by the Governmental Accounting Standards Board. For example, the School Fund in (a) would be a Special Revenue Fund.
a.School Fund (to account for special taxes levied by a county to finance the operation of schools).
b.Bond Redemption Fund (to account for taxes and other revenues to be used in retiring bonds).
c.Bridge Construction Fund (to account for the proceeds from the sale of bonds).
d.Park Fund (to account for special taxes levied to finance the operation of parks).
e.Interdepartmental Printing Shop Fund (to account for revenues received from departments forprinting done for them by the interdepartmental printing shop).
f.City Bus Line Fund (to account for revenues received from the public for transportation services)
g. Money collected for the state fund.
h. operating fund
i. electric fund
j. federal fund
k. bond redemption fund
l. school endowment fund
m. bond proceeds fund
n. employees pension and relief
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