Which of the following statements is correct?

Multiple Choice

• The General Fund and Special Revenue fund provide budget to actual comparisons and the Capital Projects, Debt Service and Permanent Funds do not.

• The General Fund and Special Revenue funds use encumbrance accounting and the Capital Projects, Debt Service and Permanent funds do not.

• The General Fund, Special Revenue, and Debt Service funds use the modified accrual basis and financial resources focus and the Capital Projects and Permanent funds do not.

• The General Fund and Special Revenue Fund have an indefinite life and the Permanent, Capital Projects and Debt Service have limited lives.