Which of the following is true regarding the use of Special Revenue Funds? Multiple Choice Special Revenue Funds are appropriate if the sole source of resources are assigned funds. Once a Special Revenue Fund is established, it will continue to be a Special Revenue Fund until all resources are exhausted, even if the only source of funds is transfers from the General Fund. Special Revenue Funds are used whenever a government wishes to segregate income for specific purposes. Special Revenue Funds are used when a substantial portion of the resources are provided by restricted or committed revenue sources..
Which of the following is true regarding the use of Special Revenue Funds? Multiple Choice Special Revenue Funds are appropriate if the sole source of resources are assigned funds. Once a Special Revenue Fund is established, it will continue to be a Special Revenue Fund until all resources are exhausted, even if the only source of funds is transfers from the General Fund. Special Revenue Funds are used whenever a government wishes to segregate income for specific purposes. Special Revenue Funds are used when a substantial portion of the resources are provided by restricted or committed revenue sources..
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Which of the following is true regarding the use of Special Revenue Funds?
Multiple Choice
-
Special Revenue Funds are appropriate if the sole source of resources are assigned funds.
-
Once a Special Revenue Fund is established, it will continue to be a Special Revenue Fund until all resources are exhausted, even if the only source of funds is transfers from the General Fund.
-
Special Revenue Funds are used whenever a government wishes to segregate income for specific purposes.
-
Special Revenue Funds are used when a substantial portion of the resources are provided by restricted or committed revenue sources..
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