Which of the following statements is true? Multiple Choice a) There are three different types of proprietary funds. b) There are

Question

3 years ago

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three different types of fiduciary funds. c) There are five different types of governmental funds.

1 answer:

astraxan [27] · Answer 1 · 2021-12-02T13:10:48+03:00

Answer:

C - there are 5 different types of governmental funds.

Explanation:

There are 2 types of proprietary funds; enterprise and internal service funds.
There are 4 types of fiduciary funds; pension, investment, private-purpose, and custodial trust funds.
There are 5 types of governmental funds; general, permanent, special revenue, capital projects, and debt service funds.