Which of the following fund types uses accrual accounting?
A) Debt Service
B) Special Revenue
C) Permanent
D) Investment Trust

Question

Quizplus · Accepted Answer

Government-wide, proprietary fund, and fiduciary fund statements are prepared using accrual accounting. Investment trust is a fiduciary fund. Governmental funds use modified accrual accounting. Debt service, special revenue and permanent funds are all governmental funds.

Which of the Following Fund Types Uses Accrual Accounting