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What are the three broad categories of funds used by governmental entities?

There are several types of government funds, which are groupings used in accounting for tax-supported activities completed by the federal government. There are three major types of funds. These types are governmental, proprietary, and fiduciary.

What are the 5 types of governmental funds?

Governmental funds are classified into five fund types: general, special revenue, capital projects, debt service, and permanent funds.

What are the three fund categories?

The Generally Accepted Accounting Principles (GAAP) basis classification divides funds into three fund categories: governmental, proprietary, and fiduciary.

What are the three categories of funds in fund based financial statements?

In fund financial statements, governments should report governmental, proprietary, and fiduciary funds to the extent that they have activities that meet the criteria for using these funds.

What are the three fund types categories used by state and local governments?

All governmental funds can be classified into one of five fund types: the general fund, special revenue funds, debt service funds, capital projects funds, and permanent funds (see Exhibit 4-2). Frequently of the spec reporting ] grants.

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Which of the following is a governmental fund type?

There are five main types of government funds, which includes the general fund, the capital projects fund, the permanent fund, the special revenue fund, and the debt service fund.

What are the three main types of governmental funds?

Types of Governmental Funds General Fund. A general fund is the chief operating fund for the entire government. Special Revenue Funds. These are used to track the revenue from specific sources restricted to certain purposes. Debt Service Fund. Capital Projects Fund.

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What are the three broad categories of funds used by governmental entities?

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What are the three broad categories of funds used by governmental entities?

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What are the three fund types categories used by state and local governments?

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Which of the following is a governmental fund type?

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