1-The fund financial statements for governmental funds shouldinclude a
A: Balance sheet for fiduciary funds B: Statement of revenues,expenditures, and changes in fund balances. C: tatement of cashflows. D; All of the above
2- Which of the following terms refers to an actual cost ratherthan an estimate?
A; Budget, B: Encumbrance, C: Expenditure, D : Appropriation
3- Equity in a special Revenue fund is known as ?
A: Restricted net assets, B; Fund balance. C: Invested incapital assets, D: Net postion
4- The government fund of a state or local government shouldreport interfund transfers as?
A: Other financing sources or uses, B: Items appearing afternonoperating revenues and expenses in the operating statement, C:Revenue or expenditures, D: Appropriation or liabilities
5- Under which basis of accounting is it appropriate torecognize expenses that expenditures?
A: cash, B: Modified cash, C : accrual, D: modified accrual
1-The fund financial statements for governmental funds shouldinclude a
A: Balance sheet for fiduciary funds B: Statement of revenues,expenditures, and changes in fund balances. C: tatement of cashflows. D; All of the above
2- Which of the following terms refers to an actual cost ratherthan an estimate?
A; Budget, B: Encumbrance, C: Expenditure, D : Appropriation
3- Equity in a special Revenue fund is known as ?
A: Restricted net assets, B; Fund balance. C: Invested incapital assets, D: Net postion
4- The government fund of a state or local government shouldreport interfund transfers as?
A: Other financing sources or uses, B: Items appearing afternonoperating revenues and expenses in the operating statement, C:Revenue or expenditures, D: Appropriation or liabilities
5- Under which basis of accounting is it appropriate torecognize expenses that expenditures?
A: cash, B: Modified cash, C : accrual, D: modified accrual
