Question

The City of New Easton constructed a convention center. After completion of the project, the convention center should be recorded as an asset in which of the following funds?

a. General Fund
b. Capital Projects Fund
c. Debt Service Fund
d. Both b and c
e. None of the above

Answer 1

The convention center should be recorded as an asset in the Capital Projects Fund.

Step-by-step explanation:

The convention center should be recorded as an asset in the Capital Projects Fund since it was a project specifically dedicated to construction or acquisition of capital assets.