With regards to governmental accounting, write a paper that answers the following:

• What is a fund and how is it used?
• How does the balance of a fund represent the available spendable resources of the entity?
• Why are there specialized funds in the different governmental units (e.g., debt service funds, special revenue funds, capital project funds)?
  • Describe 3 of these funds in detail, and give examples of how the funds are used.