55.6k views
5 votes
Which of the following fund(s) will generally be the only fund(s) that can report a positive unassigned fund balance?

a) General fund
b) Special revenue fund
c) Debt service fund
d) Capital projects fund

User StefMa
by
7.2k points

1 Answer

7 votes

Final answer:

The general fund is the one that can report a positive unassigned fund balance, as other governmental funds have resources that are constrained for specific purposes.

Step-by-step explanation:

The only fund that can report a positive unassigned fund balance is the general fund. Unassigned fund balance refers to the amount of expendable resources in a governmental fund that has not been constrained to specific purposes by a fund balance commitment or assignment. Governmental funds other than the general fund should not report a positive unassigned fund balance because their resources are already constrained to a specific purpose.

User Curt
by
8.3k points