Which of the following funds all use the current financial resources measurement focus?
A)Debt Service Fund,Special Revenue Fund,and Capital Projects Fund
B)General Fund,Debt Service Fund,and Internal Service Fund
C)Debt Service Fund,Investment Trust Fund,and Capital Projects Fund
D)General Fund,Debt Service Fund,and Pension Trust Fund

Question

Quizplus · Accepted Answer

The current financial resources measurement focus is used for funds that account for transactions related to the acquisition and use of current financial resources, such as the Debt Service Fund, Special Revenue Fund, and Capital Projects Fund. The General Fund uses the modified accrual basis of accounting, while the Pension Trust Fund and Investment Trust Fund use the economic resources measurement focus. The Internal Service Fund uses either the full accrual or modified accrual basis depending on the nature of its activities.

Which of the Following Funds All Use the Current Financial