Which of the following statemens is false? A fund...

a$.$

is an entity for which financial statements can be prepared

b$.$

is used to account for a subset of an organization's resources that is to be used for a special purpose or to achieve a particular objective

c$.$

is an accounting entity that is used for one year only. Each year, a new set of funds must be established

d$.$

has a self$-$encompassing, self$-$balancing accounting equation