What type of fund would typically be used to account for a municipal bus operation where users are charged a fee to ride the bus, and the fees collected are used to pay for the daily operation? Group of answer choices a.) Enterprise fund b.) Agency fund c.) General fund

What type of fund would typically be used to account for a municipal bus operation where users are charged a fee to ride the bus, and the fees collected are used to pay for the daily operation? Group of answer choices a.) Enterprise fund b.) Agency fund c.) General fund

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

What type of fund would typically be used to account for a municipal bus operation where users are charged a fee to ride the bus, and the fees collected are used to pay for the daily operation?

Group of answer choices

a.) Enterprise fund

b.) Agency fund

c.) General fund

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