When the government and nonprofit organizations would use each of the following funds
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For your assignment, discuss when the government and nonprofit organizations would use each of the following funds:
Capital projects fund
Debt service fund
Special revenue fund
Go to the comprehensive annual financial report (CAFR) for your state or local government, and find specific examples for the most current year in which each of these funds were used.
AnswerWhen the government and nonprofit organizations would use each of the following funds:
1. CapitalProjectFund: - This fund is use toaccountfinancial resources that are meant specifically for expenditure on capital outlay.- DebtServiceFund: - This fund is used to account for financial resources that are meant specificallyfor expenditure of principal and interest. In other...
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Published On:
10/24/2014
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