Which of the following best describes the content included in funds?

The correct choice is the one that encompasses a comprehensive view of the financial elements included in funds. Funds are generally organized accounts that represent an accumulation of resources designated for a specific purpose or activity within an organization. In this context, it is essential to consider that funds include not only assets but also expenditures and liabilities.

Assets represent what the fund owns, expenditures reflect the costs incurred during the operation of the fund, and liabilities indicate the obligations or debts the fund must address. This holistic view is fundamental for understanding how funds operate, as it provides insight into the financial health and responsibilities associated with managing public works operations.

Current revenue could technically be a part of a fund's financial overview but does not encompass all aspects of fund management. Likewise, focusing solely on investments and liabilities or just operational costs would ignore critical components that impact overall fund structure and performance. Therefore, the most accurate and complete depiction of what is included in funds is the inclusion of assets, expenditures, and liabilities.