State and local governmental funds are organized into three categories including:
A) Governmental, proprietary and restricted
B) Proprietary, fiduciary and restricted
C) Governmental, fiduciary and restricted
D) Governmental, proprietary and fiduciary

Question

Quizplus · Accepted Answer

Governmental funds are categorized into governmental, proprietary, and fiduciary funds. These categories help in organizing and managing the financial activities of state and local governments.

State and Local Governmental Funds Are Organized into Three Categories