True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
Facilitate the year-end budget-to-actual comparisons
Amend the budget during the year
Help the government monitor revenues and expenditures
Apportion appropriated expenditures to specific accounts
Recording the budget
Recording the receipt of an invoice from its telephone service provider
Ordering supplies
Approving an allocation of budget to a department for spending
Arise from debt issuances or interfund transfers in
Increase fund balance when they are closed at year-end
Have a normal credit balance
Provide financial resources for the recipient fund
They are approved by the legislative body
Goods or services are ordered
They are paid in cash
An obligation is incurred that will be paid from currently available resources
Be credited for $1,000
Be credited for $22,000
Not change
Be debited for $21,000
Operating, capital, and cash budgets are prepared by governmental units, but only operating budgets are prepared by commercial organizations.
Budgets prepared by commercial organizations must be approved by a governing body, whereas those prepared by governmental units need no approvals.
Budgets prepared by governmental units are legal documents, whereas those prepared by commercial organizations are not.
Budgets prepared by commercial organizations are formally recorded in the organizations operating accounts, whereas those prepared by governmental units are not.
Redemption of bonds
Depreciation
Personal services
Utilities
Probable delinquent taxpayers can be identified individually
Property tax receivables are carried at net realizable value
An expenditure for bad debts is recorded in the accounts
Property tax revenues will exceed the total amount of the levy
Debit bad debts expenditures; credit allowance for uncollectible property taxes
Debit allowance for uncollectible property taxes; credit property taxes receivable
Debit allowance for uncollectible property taxes; credit property tax revenues
Debit property tax revenues; credit property taxes receivable
Property taxes
Parking meter receipts
Fines and penalties
License and permit fees
A debit to office supplies inventory
A credit to office supplies expenditure
A debit to office supplies expenditure
A debit to office supplies inventory
A credit to office supplies expenditure
A debit to expenditure
Credit to expenditures
A credit to Other financing sources proceeds from sale of general fixed assets
A credit to a Vehicles fixed asset acc
A debit to Unreserved fund balance ount
A debit to Encumbrances capital equipment
0
$ 100,000
$ 40,000
$ 90,000
Is
Is not
Are
Are not
Always returned to the provider( s) of the resources
Always transferred to a Debt Service Fund
Disbursed according to the directives of the resource provider
Always transferred to the General Fund
Examine the amount of money involved; agency relationships generally involve smaller amounts.
Examine the aggregate of factors, such as the enactment that brought the relationship into existence, statutes, regulations, etc, that help define the nature of the relationship.
Examine the length of time assets will be held; trust relationships are generally in existence longer than agency relationships.
Examine the wording of any agreements to determine if the word "trust" or "agency" is used.
Only in corporate stocks and bonds
Only in governmental bonds
Only as provided in the trust agreement
Any way the government that operates the fund wishes
May be debited to the assets or an additions account
May be debited or credited to the asset account
Must be credited to an additions account
May be credited to the asset account
None of the these
Debt service of general obligation bonds used to finance an addition to city hall
Revenue generated from a property tax levy
Expenditures of the General Fund
Debt service for Enterprise Fund debt
None of the these
Capital Projects Fund
Pension Trust Fund
General Fund
Agency Fund
True
False
True
False
True
False
True
False
True
False
Letter of transmittal, MD&A, and financial.
Introductory, financial, and statistical.
Introductory, MD&A, and financial.
Letter of transmittal, financial, and supplementary.
Introductory section.
Management discussion and analysis section.
Statistical section.
Financial section.
Transmittal letter.
The basic financial statements, including notes thereto.
Tables and charts showing demographic and economic data.
A description of the government.
Statement of cash flows.
Statement of revenues, expenses, and changes in fund net assets.
Balance sheet.
Statement of activities.
A method of preparing the notes to the CAFR
The process of including the financial data of a component unit with the financial data of the primary government
The process of combining intergovernmental revenues with the revenues of the reporting government
The process of reporting the financial data of a component unit as a sep-arate column in the reporting entitys financial statements
The primary government is required by law to finance the entity's deficits. .
The primary government is authorized by law to bill the entity the cost of police and fire protection
The primary governments chief executive can appoint a voting majority of the entity's governing body.
The primary governments director of finance serves as a member of the entity's governing body.
The primary government is required by law to purchase its electricity from the entity, which also supplies electricity to the residents of the community.
$ 995,000
$ 1,000,000
$ 1,015,000
$ 1,005,000
True
False
The same measurement focus as that used in accounting for each fund type
The current financial resources measurement focus
The economic resources measurement focus
The economic resources measurement focus for governmental fund types and the current financial resource measurement focus for proprietary and fiduciary fund types
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