Question on: SS3 Accounting - Terminologies Used In Public Sector Account
What is a fund in public sector accounting?
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A
A legal authority granted by a legislative body to spend money
B
A separate accounting entity that contains money or other resources allocated for a specific purpose
C
The money earned by a government or public organization from its operations
D
The money spent by a government or public organization to fulfil its obligations
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Correct Option: B
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