Question

Assets which are used to assist in the preservation of a private residence that is of historical significance to the city.

A) General Fund
B) Special Revenue Fund
C) Capital Projects Fund
D) Fiduciary Fund

Answer 1

The correct answer is C) Capital Projects Fund.

Step-by-step explanation:

The correct answer is C) Capital Projects Fund.

A Capital Projects Fund is a type of government fund that is used to account for and track the financing and expenditures of capital projects, which are typically large, long-term investments in physical assets.

Since the asset in question is a private residence of historical significance, it would fall under the category of a capital project, as it requires financial resources for its preservation and maintenance.