A gift to a government company is recorded to Select one: a Permanent fund b. Special revenue fund c. General fund d. Debt service fund
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A gift to a government company is recorded to
Select one: a Permanent fund b. Special revenue fund c. General fund d. Debt service fund
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- Governments often provide goods and services to citizens or other governmental units at a fee. These activities are accounted for in: a. the general fund b. governmental funds c. proprietary funds d. special revenue fundsWhich of the financial statements described below is prepared by the general fund of a state or local government? Group of answer choices a.) A statement of revenues, expenses, and changes in retained earnings. b.) An income statement. c.) A statement of revenues, expenditures, and changes in fund balance.Which of the following accounts of a governmental unit is debited when a purchase order is approved?a. Appropriationsb. Vouchers Payablec. Fund Balance—Assigned or Committedd. Encumbrances
- Which Statement is presented using the accrual basis of accounting? Multiple Choice A. Governmental Fund Balance Sheet B. Government-Wide Statement of Activities C. Statement of Revenues, Expenditure and changes in Fund Balances D. Both A and B choices are true.The modified accrual method of accounting is applied to which of the following funds or asset groups? a. Proprietary funds b. Governmental funds c. Fiduciary funds d. Government trust fundsA government entity is required to include a statement of cash flows in which of the following financial statements? Governmental fund financial statements. Government-wide financial statements. Proprietary fund financial statements. Fiduciary fund financial statements.
- In a governmental fund, which of the following is considered an expenditure? a. The purchase of a capital asset b. The consumption of supplies c. Salaries earned by employees d. All of the aboveIn a governmental fund, which one of the following constitutes revenue?a. Cash received from another fund of the same unitb. Bond proceedsc. Property taxesd. Refund on an invoice for fuelIn which of the following fund types of a city government are revenues and expenditures recognized on the same basis of accounting as the general fund?a. Private-purpose trust fundsb. Internal servicec. Enterprised. Debt service
- Accounting for permanent funds closely resembles the accounting for a. internal service funds. b. general funds. c. enterprise funds. d. agency funds.Which of the following funds of a government uses the same basis of accounting as a proprietary fund? Multiple Choice Permanent fund. Special revenue fund. Capital projects fund. Investment trust fund.The billings for transportation services provided to other governmental units are recorded by the internal service fund asa. other financing sources.b. intergovernmental transfers.c. transportation appropriations.d. operating revenues.