Both enterprise funds and capital project funds do not typically record budgets.
The last option is the correct answer.
Which of the following funds typically do not record budgets? Multiple Choice O Enterprise Funds. Special...
Which of the following funds typically do not record budgets? Multiple Choice Ο Enterprise Funds Ο Special Revenue Funds. Ο Capital Project Funds. Ο Both enterprise funds; and Capital Project Funds. η Ε Next >
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...
of the following, which typically would not be classified as a current liability? Multiple Choice o A six-month bank loan to be paid with the proceeds from the sale of common stock. . Rent revenue received in advance. 0 0 A long-term noté payable maturing within the coming year. 0 Estimated liability from cash rebate program Google Chrome
Which of the following is correct with respect to rainy day funds? Multiple Choice Rainy day funds are classified as committed or restricted if imposed externally or by law. Rainy day funds are classified as unassigned if the funds are available for emergencies or revenue shortfalls which may be accessed on an ongoing basis. Both of the choices are correct. Neither of the choice is correct.
Directions: Select the best answer for the following multiple choice questions. 1. Which of the following is not part of the basic financial statements? a. Governmental funds statement of revenues, expenditures, and changes in fund balances. b. Budgetary comparison schedules - general and special revenue funds. c. Government-wide statements of activities. d. Notes to the financial statements. 2. Which statement is true regarding the "major" funds? a. The general fund is considered major if it is large enough. b. Other...
Which of the following is correct with respect to rainy day funds? Multiple Choice Rainy day funds are classified as committed or restricted if imposed extemally or by low. Ο Roiny day funds are classified as unassigned if the funds are available for emergencies or revenue shortfalls which may be accessed on an ongoing basis Ο Both of the choices are correct. Ο Neither of the choice is correct
Check my o Which of the following accounts is increased with a debit? 0:32:08 Multiple Choice Insurance expense Service revenue Accounts payable Common stock 10 of 20 ! Next > < Prev
Which of the following is true regarding trust funds: O Both of the above. O Neither of the above. O All Non-Expendable trust funds are reported in permanent funds. O Trust funds may be either non-expendable (principal must be maintained) or expendable < Prev 6 of 25 Next >
Which of the following is a normative economic statement? Multiple Choice C) The government needs to revamp the Social Security program to make it sustainable O Health care accounts for roughly a third of total spending in the economy O Retail sales are expected to continue on their downward trend in the next three quarters, ( The poverty rate hit a new high last year and income distribution also worsened. < Prev 10 of 50 Naxt > Another way of...
Which of the following statements is correct with respect to Fiduciary Funds? Multiple Choice Fiduciary funds include Pension trust funds, Internal service funds, Private-purpose trust funds, and Investment trust funds. O Custodial funds are fiduciary funds which are used when resources are held by a government in a trustee capacity but no trust agreement is in place. se by a gover Fiduciary funds use the current financial resources measurement focus and accrual accounting Fiduciary funds must be adjusted when preparing...