What is a distinction between Private Purpose Trust Funds and Permanent Funds?

	A.	The beneficiaries of Private Purpose Trust Funds are "outside" the government; the beneficiaries of Permanent Funds are the reporting government or its citizenry.
	B.	Private Purpose Trust Funds are governmental fund types; Permanent Funds are fiduciary fund types.
	C.	Private Purpose Trust Funds account on the modified accrual basis; Permanent Funds account on the full accrual basis.
	D.	Investments of Private Purpose Trust Funds are valued at cost; investments of Permanent Funds are valued at fair value.

Which of the following financial statements normally are prepared for the General Fund?

Statement of Revenues,

Expenditures, and	Balance	Statement of
Changes in Fund Balance	Sheet	Cash Flows

A.

yes

yes

yes

B.

yes

no

yes

C.

yes

yes

no

D.

no

yes

yes