Which of the following fund types uses modified accrual accounting?
A) Enterprise
B) Capital Project
C) Pension Trust
D) Internal Service

Question

Quizplus · Accepted Answer

Governmental funds use modified accrual accounting. Capital project funds are government funds. Government-wide, proprietary fund, and fiduciary fund statements are prepared using accrual accounting. Enterprise and internal service funds are proprietary funds and a pension trust is a fiduciary fund.

Which of the Following Fund Types Uses Modified Accrual Accounting