D is corrent because per GASB Codification Section 1300, the Enterprise and Internal Service Funds are both proprietary funds that recognize revenues and expenses on an accrual basis (Section 1600).
A is incorrect because the Enterprise Fund is a proprietary fund, while the Special Revenue Fund is a governmental fund. Proprietary funds use the accrual basis of accounting while governmental funds use the modified accrual basis.
B is incorrect because the Capital Projects Fund is a governmental fund and recognizes revenues and expenditures on the modified accrual basis. However, the Enterprise Fund recognizes revenues and expenses on the accrual basis, not on the modified accrual basis. Therefore, these two funds do not use the same basis of accounting.
C is incorrect because per GASB Codification Section 1300, a Permanent Fund is a governmental fund. Therefore, Permanent Funds recognize revenues and expenditures on the modified accrual basis and not on the accrual basis.
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