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Ch. 7 - 365

17 Questions  I  By R_man
Ch. 7 - 365
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1.  Within the government-wide financial statements, the column for the Business-type Activities will generally include:
A.
B.
C.
D.
2.  Which of the following would most likely be accounted for in an internal service fund?
A.
B.
C.
D.
3.  The Computer Service Department operates as an internal service fund. It has billed the Parks and Recreation Department $3,000 for the services provided by its computer technicians. How would this be shown at the government-wide level?
A.
B.
C.
D.
4.  During 2014, the Ghetto City government recorded a $15,000 transfer from the General Fund to an internal service fund; a $25,000 transfer from the General Fund to an enterprise fund; a $10,000 transfer from an enterprise fund to an internal service fund, and a $5,000 transfer from an enterprise fund to the General Fund. In the Business-type Activities column of the government-wide financial statements, Ghetto City should report:
A.
B.
C.
D.
5.  Which of the following events would generally be classified as nonoperating on an enterprise fund's statements of revenues, expenses, and changes in net position?
A.
B.
C.
D.
6.  During 2014 Walnut Creek reported the following operating receipts from self-sustaining activities paid by users of the services rendered: Operations of water supply plant.......................$4,000,000 Operations of transit system..............................      800,000 What amounts should be reported as operating revenues of Walnut Creek's enterprise funds?
A.
B.
C.
D.
7.  Under GASB standards, which of the following events would be classified as an investing activity on a proprietary fund's statement of cash flows?
A.
B.
C.
D.
8.  The proceeds of tax-supported bonds issued for the benefit of an enterprise fund and being serviced by a debt service fund:
A.
B.
C.
D.
9.  During the year an enterprise fund purchased $230,000 worth of equipment. The equipment was acquired with a cash down payment of $23,000 and a $207,000 loan. What is the net effect of this transaction on the net position accounts of the enterprise fund?
A.
B.
C.
D.
10.  Antioch had the following long-term liabilities at year end: Revenue bonds to be repaid from tolls collected      by the superhighway enterprise fund                                        $250,000 General obligation bonds issued for the Antioch      water utility, which will service the debt                                       200,000 What amount should be recorded as long-term liabilities in the proprietary fund financial statements?
A.
B.
C.
D.
11.  Which of the following would be reflected in the operating statement of a proprietary fund?
A.
B.
C.
D.
12.  A cash flow statement prepared under GASB standards differs from one prepared under FASB standards in which of the following ways?
A.
B.
C.
D.
13.  Which of the following funds of a government uses the same basis of accounting as a proprietary fund?
A.
B.
C.
D.
14.  For proprietary funds, governments generally present a statement of net position in a format that displays assets, plus deferred outflows of resources, less liabilities, less deferred inflows of resources, equals net position.
A.
B.
15.  Which of the following may be reported as a component of net position in the proprietary fund statement of net position?
A.
B.
C.
D.
16.  Which of the following properly portrays the components of net position for proprietary funds?
A.
B.
C.
D.
17.  Which of the following would not be considered a general long-term liability?
A.
B.
C.
D.
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