D is corrent. GASB 34 defines governmental funds to include the general fund, special revenue, capital projects, debt service, and permanent funds. Permanent funds report resources that are legally restricted in that the earnings, not principal, may be expended, and for purposes that benefit the government and its citizens. Private-purpose, agency, and pension trust funds are all fiduciary funds.
A is incorrect. GASB 34 defines governmental funds to include the general fund, special revenue, capital projects, debt service, and permanent funds.
B is incorrect. GASB 34 defines governmental funds to include the general fund, special revenue, capital projects, debt service, and permanent funds.
A is incorrect. GASB 34 defines governmental funds to include the general fund, special revenue, capital projects, debt service, and permanent funds.
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