Choice "A" is correct. The permanent fund uses the same basis of accounting as the special revenue funds. Both the permanent fund and the special revenue fund are governmental funds (GRaSPP), that use modified accrual accounting (revenues are recorded when measurable and available). Choice "c" is incorrect. The enterprise fund is a proprietary fund (SE) and uses full accrual accounting.Choice "b" is incorrect. The internal service fund is a proprietary fund (SE) and uses full accrual accounting.Choice "d" is incorrect. The private purpose fund is a fiduciary fund (PAPI) and uses full accrual accounting.
