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Which of the following statements is true? Fund balances of debt service funds are classified as Restricted and Unrestricted. The fund balance of permanent funds
Which of the following statements is true?
Fund balances of debt service funds are classified as Restricted
and Unrestricted.
The fund balance of permanent funds should be classified as
Nonspendable, Spendable, and Committed Net Position.
The principal of permanent funds are classified as
Nonspendable Fund Balance.
Any governmental fund may have an Unassigned Fund Balance.
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Accounting Tools for business decision making
Authors: kimmel, weygandt, kieso
4th Edition
978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461
