True or False:
"Budgetary comparisons for an Enterprise Fund may be reported as an individual fund financial schedule."
Solution:
True, ""Budgetary comparisons for an Enterprise Fund may be reported as an individual fund financial schedule."
True or False: "Budgetary comparisons for an Enterprise Fund may be reported as an individual fund...
1. With respect to the preparation of fund basis financial statements, enterprise funds are considered to be major when which of the following conditions exist? Multiple Choice Both When total assets, liabilities, revenues, or expenses of that individual enterprise fund constitutes 10% of the total for the enterprise fund category and When total assets, liabilities, revenues, or expenses of that individual enterprise fund are 5% of the total of the governmental and enterprise categories, combined required to be a major...
What are the criteria for determining if a governmental or enterprise fund must be reported as a major fund? What other funds should or may be reported as major funds?
1.) Assume that an Enterprise Fund contributed $85,000 to the General Fund for operations. The money is not intended to be a loan. Which of the following statements is true? Select one: a. The Enterprise Fund will report capital contributions of $85,000. b. The Enterprise Fund will report expenses of $85,000. c. The Enterprise Fund will report other financing uses of $85,000 d. The Enterprise Fund will report advances of $85,000. e. The Enterprise Fund will report transfers out of...
With respect to the preparation of fund basis financial statements, enterprise funds are considered to be major when which of the following conditions exist? Multiple Choice Wh o l es, labies, revenues or expenses of that individual enterprise fund constitutes 10% of the total for the enterprise find category Both When total se b qurato m , leben over or expenses of the individual enterprise fund constitutes 10% of the total for the enterprise fund category and When a ve...
Which of the following is true with respect to the General Fund? Multiple Choice The General Fund funds considered to be a major fund only if the total of assets, l e s revenues, or expenditures exceeds 10% of the total of all governmental The General Fund is always considered a major fund The General Fund is considered to be a major fund when preparing fund basis financial statements only if the total assets, liabilities, revenues, or expenditures of that...
Interest and principal on enterprise fund revenue bonds should be recorded in a debt service fund until paid. Question 84 options: True False
State whether the following are true or false. For the false items, explain why they are false. a. Enterprise Funds are used only when all services are provided to non-governmental entities, and Internal Service Funds are used only when all services are provided to governmental agencies that are a part of the reporting government. b. Enterprise Funds use the economic resources measurement focus and full accrual basis of accounting only when they want to compute the costs of...
True or False: A crude death rate is a rate that is used to make comparisons across groups.
Which of the following statements is false? A)With respect to fund basis financial statements, a government may designate any fund to be a major fund if reporting that fund separately would be useful. B)When preparing fund basis financial statements, any funds not reported separately are aggregated and reported in a single column under the label non-major funds. C)When preparing fund basis financial statements, any funds not reported separately are reported by function. D)In addition to the government-wide statements, governments are...
true or false
QUESTION 26 Governments can account for enterprise-related special assessments in enterprise funds or funds where they account for other special assessments.