ADVANCED FINANCIAL ACCOUNTING IA
12th Edition
ISBN: 9781260545081
Author: Christensen
Publisher: MCG
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Chapter 18, Problem 18.3.3E
To determine
Concept Introduction: Expendable funds are those type of funds which has donations and grants that can be used directly for funding a specific or general activity.
To select: The correct option for that fund which is not expendable.
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Which of the following is not a governmental fund? Choose the correct.a. Special revenue fundb. Internal service fundc. Capital projects fundd. Debt service fund
Which of the following funds are classified as proprietary funds?
Group of answer choices
a.) Agency and special revenue funds.
b.) Agency and pension trust funds.
c.) Enterprise and internal service funds.
What type of the fund is alloted to capital project?Select one:a. Special revenue fundb. Government fundc. General fundd. None of the other points
Chapter 18 Solutions
ADVANCED FINANCIAL ACCOUNTING IA
Ch. 18 - In what circumstances would a governmental unit...Ch. 18 - Prob. 18.2QCh. 18 - Prob. 18.3QCh. 18 - Prob. 18.4QCh. 18 - What is the basis of accounting in the proprietary...Ch. 18 - Prob. 18.6QCh. 18 - Prob. 18.7QCh. 18 - What are the primary differences between a...Ch. 18 - Prob. 18.9QCh. 18 - Prob. 18.10Q
Ch. 18 - Prob. 18.11QCh. 18 - Prob. 18.12QCh. 18 - Prob. 18.13QCh. 18 - GASB 34 required a budgetary comparison schedule...Ch. 18 - Prob. 18.15QCh. 18 - Prob. 18.1CCh. 18 - Capital Projects, Debt Service, and Internal...Ch. 18 - Prob. 18.1.1ECh. 18 - Prob. 18.1.2ECh. 18 - Prob. 18.1.3ECh. 18 - Prob. 18.1.4ECh. 18 - Prob. 18.1.5ECh. 18 - Prob. 18.1.6ECh. 18 - Prob. 18.1.7ECh. 18 - Prob. 18.1.8ECh. 18 - Prob. 18.1.9ECh. 18 - Prob. 18.1.10ECh. 18 - Prob. 18.1.11ECh. 18 - Prob. 18.1.12ECh. 18 - Multiple-Choice Items on Governmental Funds [AICPA...Ch. 18 - Prob. 18.2.2ECh. 18 - Prob. 18.2.3ECh. 18 - Multiple-Choice Items on Governmental Funds [AICPA...Ch. 18 - Prob. 18.2.5ECh. 18 - Multiple-Choice Items on Governmental Funds [AICPA...Ch. 18 - Multiple-Choice Items on Proprietary Funds [AICPA...Ch. 18 - Prob. 18.3.2ECh. 18 - Prob. 18.3.3ECh. 18 - Prob. 18.3.4ECh. 18 - Prob. 18.3.5ECh. 18 - Prob. 18.3.6ECh. 18 - Prob. 18.3.7ECh. 18 - Prob. 18.3.8ECh. 18 - Prob. 18.3.9ECh. 18 - Prob. 18.4.1ECh. 18 - Prob. 18.4.2ECh. 18 - Prob. 18.4.3ECh. 18 - Prob. 18.4.4ECh. 18 - Prob. 18.4.5ECh. 18 - Prob. 18.4.6ECh. 18 - Prob. 18.4.7ECh. 18 - Prob. 18.4.8ECh. 18 - Prob. 18.5.1ECh. 18 - Prob. 18.5.2ECh. 18 - Prob. 18.5.3ECh. 18 - Prob. 18.5.4ECh. 18 - Prob. 18.5.5ECh. 18 - Prob. 18.5.6ECh. 18 - Prob. 18.5.7ECh. 18 - Prob. 18.5.8ECh. 18 - Capital Projects Fund Entries and Statements The...Ch. 18 - Debt Service Fund Entries and Statements The City...Ch. 18 - Enterprise Fund Entries and Statements Augusta has...Ch. 18 - Interfund Transfers and Transactions During 20X8,...Ch. 18 - Internal Service Fund Entries and Statements...Ch. 18 - Prob. 18.11.1ECh. 18 - Prob. 18.11.2ECh. 18 - Prob. 18.11.3ECh. 18 - Prob. 18.11.4ECh. 18 - Prob. 18.11.5ECh. 18 - Prob. 18.11.6ECh. 18 - Prob. 18.11.7ECh. 18 - Prob. 18.11.8ECh. 18 - Prob. 18.11.9ECh. 18 - Prob. 18.11.10ECh. 18 - Adjusting Entries for General Fund [AICPA Adapted]...Ch. 18 - Entries for Funds [AICPA Adapted] Olivia Village...Ch. 18 - Prob. 18.14PCh. 18 - Prob. 18.15PCh. 18 - Prob. 18.16PCh. 18 - Matching Items Involving Various Funds The...Ch. 18 - Prob. 18.18.1PCh. 18 - Prob. 18.18.2PCh. 18 - Prob. 18.18.3PCh. 18 - Prob. 18.18.4PCh. 18 - Prob. 18.18.5PCh. 18 - Prob. 18.18.6PCh. 18 - Prob. 18.18.7PCh. 18 - Prob. 18.18.8PCh. 18 - Prob. 18.18.9PCh. 18 - Prob. 18.18.10PCh. 18 - Matching Items Involving the Statement of Cash...Ch. 18 - Prob. 18.20PCh. 18 - Matching Items on Fund Transactions [AICPA...Ch. 18 - Major Fund Tests The City of Somerset has the...Ch. 18 - Prob. 18.23PCh. 18 - Prob. 18.24.1PCh. 18 - Prob. 18.24.2PCh. 18 - Prob. 18.24.3PCh. 18 - Prob. 18.24.4PCh. 18 - Prob. 18.24.5PCh. 18 - Prob. 18.24.6PCh. 18 - Prob. 18.24.7PCh. 18 - Prob. 18.24.8PCh. 18 - Prob. 18.24.9PCh. 18 - Prob. 18.24.10PCh. 18 - Prob. 18.24.11PCh. 18 - Prob. 18.24.12PCh. 18 - Prob. 18.24.13PCh. 18 - Prob. 18.24.14PCh. 18 - Prob. 18.24.15PCh. 18 - Prob. 18.25PCh. 18 - Prob. 18.26P
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- 8 The basis of accounting that should be used in preparing fund financial statements is: Governmental funds Proprietary funds Fiduciary funds A) Modified accrual Accrual Modified accrual B) Modified accrual Modified accrual Modified accrual C) Modified accrual Accrual Accrual D) Accrual Accrual Accrual Multiple Choice Choice A Choice B Choice C Choice Darrow_forwardThe financial statements of an Enterprise fund are prepared using the Full Accrual Modified Accrual Economic Resources Current Financial Resources Basis Basis Measurement Focus Measurement Focus A.) No Yes Yes No B.) Yes No No Yes C.) No Yes No Yes D.) Yes No Yes Noarrow_forwardSelect all that apply Which of the following statements are correct? Fund accounting segregates financial resources with constraints or limitations. General purpose governments may have more than one General Fund. Special revenue funds are used for resources to be used to acquire capital assets. Special revenue funds are not used for resources for payments on long-term debt.arrow_forward
- 6 Which of the following should not be reported on the balance sheet of the General Fund? Multiple Choice Equipment. Vouchers payable. Tax anticipation notes payable. Due from federal government.arrow_forwardWhich 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.arrow_forwardOptions are Agency Fund Capital Projects Fund Capital Projects Fund and Debt Service Fund Debt Service Fund Enterprise Fund Enterprise FUnd and the General Fund The General Fund The General Fund and the Internal Service Fund Internal Service Fund and the General Fund Internal Service Fund Trust Fund (Propietary)arrow_forward
- The permanent fund is one of the several types of governmental funds. a. True b. Falsearrow_forwardWhat is the purpose of a special revenue fund? Choose the correct.a. To account for revenues legally or externally restricted as an operating expenditure.b. To account for ongoing activities.c. To account for gifts when only subsequently earned income can be expended.d. To account for the cost of long-lived assets bought with designated funds.arrow_forwardDonor-restricted contributions that have been given to a VHWO for the purpose of purchasing fixed assets should be recorded as increases toa. Unrestricted Net Assets.b. Temporarily Restricted Net Assets.c. Permanently Restricted Net Assets.d. Fund Balance—Restricted.arrow_forward
- Prepare a Balance Sheet for the governemental Funds assumiong all unexpended spendable net resources in the capital projects fund are classified as restricted and in the debt service fund are classified as assigned.arrow_forward10 An interfund transfer in should be reported in a governmental fund operating statement as a(an): Multiple Choice Revenue. Due from other funds. Other financing source. Other financing use.arrow_forwardIf an internal service fund is intended to operate on a cost-reimbursement basis, then user charges should a. cover the full costs, both direct and indirect, of operating the fund. b. cover the full costs of operating the fund and provide for future expansion and replacement of capital assets. c. cover at a minimum the direct costs of operating the fund. d. do all of the above.arrow_forward
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What is Fund Accounting?; Author: Aplos;https://www.youtube.com/watch?v=W5D5Dr0j9j4;License: Standard Youtube License