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Which statements is true regarding the definition of a fund

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Reference no: EM132553536

Question 1: Which of the following statements is true regarding the definition of a fund?

a. A fund is a fiscal and accounting entity.

b. A fund has a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances and changes therein.

c. Resources, related liabilities, and residual equities or balances and changes therein are segregated for the purpose of carrying out specific activities or attaining certain objectives.

d. All of the above.

e. None of the above

Reference no: EM132553536

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