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Which of the following statements is incorrect concerning special revenue funds? A. Special revenue funds use the current resources measurement focus and modified accrual basis
Which of the following statements is incorrect concerning special revenue funds?
A. | Special revenue funds use the current resources measurement focus and modified accrual basis of accounting. | |
B. | The use of a special revenue fund enhances accountability and enables greater transparency in reporting how specific resources were used. | |
C. | A government may have more than one special revenue fund. | |
D. | All primary governments must have at least one special revenue fund. |
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