Concept:Fund accounting is a government accounting method that treats each fund as a separate financial entity with its own self-balancing set of books.
Explanation:Government accounting does not rely on the entity-of-proprietorship concept used in commercial accounting.
Instead, resources are grouped into distinct funds, and each fund is treated as a separate fiscal and accounting entity.
For example, the consolidated revenue fund is kept apart from other capital or special funds.
Each of these funds must maintain its own self-balancing books so that debits and credits always balance within the fund.
This system is known as fund accounting.
It emphasises accountability and legal compliance rather than profitability.
Virement is only a transfer between budget heads, the consolidated fund is just one specific account, and financial regulation refers to a set of rules, so none of them matches the description.
Answer:B. fund accounting