Which of the following funds frequently does NOT have a fund balance?
A) General fund
B) Agency fund
C) Special revenue fund
D) Capital projects fund

Question

Quizplus · Accepted Answer

Agency funds, by definition, do not have a fund balance because they account for resources held by the government as an agent for individuals, private organizations, or other governments, and therefore, the government does not have a claim to those resources.

Which of the Following Funds Frequently Does NOT Have a Fund