E 19-4 Multiple choiceWhich of the following is not a governmental fund?Special revenue fundDebt service fundTrust fundGeneral fundWhich of these funds generally follows the accrual basis of accounting?General fundInternal service fundDebt service fundSpecial revenue fundWhich of the following funds will report fixed assets in the fund financial statements?General fundSpecial revenue fundDebt service fundNone of the aboveWhich of the following funds would not be included in governmental fund financial statements?Debt service fundGeneral fundPension trust fundPermanent fundWhich of the following funds would be used to account for an activity that provides goods or services to other funds?General fundEnterprise fundDebt service fundInternal service fund

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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E 19-4 Multiple choice

Which of the following is not a governmental fund?
1. Special revenue fund
2. Debt service fund
3. Trust fund
4. General fund
Which of these funds generally follows the accrual basis of accounting?
1. General fund
2. Internal service fund
3. Debt service fund
4. Special revenue fund
Which of the following funds will report fixed assets in the fund financial statements?
1. General fund
2. Special revenue fund
3. Debt service fund
4. None of the above
Which of the following funds would not be included in governmental fund financial statements?
1. Debt service fund
2. General fund
3. Pension trust fund
4. Permanent fund
Which of the following funds would be used to account for an activity that provides goods or services to other funds?
1. General fund
2. Enterprise fund
3. Debt service fund
4. Internal service fund

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9) Exercise 21-30 (Static) FASB codification research [LO21-1, 21-4, 21-7]

Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific eight-digit Codification citation (XXX-XX-XX-X) for accounting for each of the following items:

Disclosure of interest and income tax paid if the indirect method is used.
Primary objectives of a statement of cash flows.
Disclosure of noncash investing and financing activities.

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