Question 1

Which of the following funds is a fiduciary fund?

Accepted Answer

A) Permanent fund. 
B) Agency fund. 
C) Capital project fund. 
D) Debt service fund. 
A) Permanent fund. 
B) Agency fund. 
C) Capital project fund. 
D) Debt service fund.

Question 2

A not-for-profit entity Statement of Net Assets will NOT report which of the following?

Accepted Answer

A) Net assets invested in capital assets net of related debt. 
B) Capital assets. 
C) Temporarily restricted net assets. 
D) Permanently restricted net assets. 
A) Net assets invested in capital assets net of related debt. 
B) Capital assets. 
C) Temporarily restricted net assets. 
D) Permanently restricted net assets.

Question 3

Which fund type would all governments normally include in their fund financial statements?

Accepted Answer

A) Capital projects funds 
B) Special revenue funds 
C) General fund 
D) Fiduciary funds 
A) Capital projects funds 
B) Special revenue funds 
C) General fund 
D) Fiduciary funds

Question 4

Which of the following is NOT a governmental fund?

Accepted Answer

A) City Hall Debt Service Fund. 
B) City Utilities Enterprise Fund. 
C) Gasoline Tax Special Revenue Fund. 
D) City Hall Capital Project Fund. 
A) City Hall Debt Service Fund. 
B) City Utilities Enterprise Fund. 
C) Gasoline Tax Special Revenue Fund. 
D) City Hall Capital Project Fund.

Question 5

Under the GASB Statement No.34 reporting model for governmental entities, fund financial statements include separate sets of financial statements for:

Accepted Answer

A) Each major function of the government. 
B) Governmental funds, proprietary funds, and fiduciary funds. 
C) Governmental funds, enterprise funds, and internal service funds. 
D) Governmental funds, special revenue funds, and debt service funds. 
A) Each major function of the government. 
B) Governmental funds, proprietary funds, and fiduciary funds. 
C) Governmental funds, enterprise funds, and internal service funds. 
D) Governmental funds, special revenue funds, and debt service funds.

Question 6

Which of the following funds is a proprietary fund?

Accepted Answer

A) Internal service fund. 
B) Special revenue fund. 
C) Capital project fund. 
D) Permanent fund. 
A) Internal service fund. 
B) Special revenue fund. 
C) Capital project fund. 
D) Permanent fund.

Which of the following funds is a fiduciary fund?

A not-for-profit entity Statement of Net Assets will NOT report which of the following?

Which fund type would all governments normally include in their fund financial statements?

Which of the following is NOT a governmental fund?

Under the GASB Statement No.34 reporting model for governmental entities, fund financial statements include separate sets of financial statements for:

Which of the following funds is a proprietary fund?

The Government and Not-For-Profit Environment

Issues of Budgeting and Control

Recognizing Revenues in Governmental Funds

Recognizing Expenditures in Governmental Funds

Accounting for Capital Projects and Debt Service

Capital Assets and Investments in Marketable Securities

Long-Term Obligations

Business-Type Activities

Fiduciary Funds and Permanent Funds

Issues of Reporting, Disclosure, and Financial Analysis

Not-For-Profit Organizations

Colleges and Universities

Health Care Providers

Managing for Results

Auditing Governments and Not-For-Profit Organizations

Federal Government Accounting

Filters

Exam 2: Fund Accounting

Which of the following funds is a fiduciary fund?

A not-for-profit entity Statement of Net Assets will NOT report which of the following?

Which fund type would all governments normally include in their fund financial statements?

Which of the following is NOT a governmental fund?

Under the GASB Statement No.34 reporting model for governmental entities, fund financial statements include separate sets of financial statements for:

Which of the following funds is a proprietary fund?

The Government and Not-For-Profit Environment

Issues of Budgeting and Control

Recognizing Revenues in Governmental Funds

Recognizing Expenditures in Governmental Funds

Accounting for Capital Projects and Debt Service

Capital Assets and Investments in Marketable Securities

Long-Term Obligations

Business-Type Activities

Fiduciary Funds and Permanent Funds

Issues of Reporting, Disclosure, and Financial Analysis

Not-For-Profit Organizations

Colleges and Universities

Health Care Providers

Managing for Results

Auditing Governments and Not-For-Profit Organizations

Federal Government Accounting

Filters