700-900 words
With regards to governmental accounting, write a paper that answers the following:
- What is a fund and how is it used?
- How does the balance of a fund represent the available spendable resources of the entity?
- Why are there specialized funds in the different governmental units (e.g., debt service funds, special revenue funds, capital project funds)?
- Describe 3 of these funds in detail, and give examples of how the funds are used.
