Special revenue funds record budgets.
Enterprise and capital project funds typically do not record budgets.
The last option is the correct answer.
Which of the following funds typically do not record budgets? Multiple Choice Ο Enterprise Funds Ο...
Which of the following funds typically do not record budgets? Multiple Choice O Enterprise Funds. Special Revenue Funds. Capital Project Funds. Both enterprise funds; and Capital Project Funds. < Prev 8 of 25 Next >
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
Which of the following is true of a city government's pension activities? Multiple Choice Ο O Pension trust funds are reported in the fiduciary funds of the government only if the city acts as trustee for the retirement plan. Ο The net pension liability for a city administered pension plan is reported in the Statement of Fiduciary Net Position. Ο C) Both of the choices are true. Neither of the choice is true.
Multiple Choice Ο Office equipment Ο Land Ο Unearned revenue Patent Which of the following is classified as a current asset?
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...
Which of the following statements is false? Multiple Choice Ο Premiums generated from the issuance of bonds for a capital projects fund are generally transferred to the Debt Service Fund. Ο taxes are levied specifically for payment of interest and principal on long-term debt, those taxes are recognized as revenues of the Debt Service Fund. Ο O An encumbrance in a capital project fund is created when the contract for the work is signed or issued. Ο Unmatured principal installments...
Which of the following is not an example of euploidy? Multiple Choice Ο Triploid Ο Diploid Ο Tetraploid Ο Polyploid Ο Aneuploid < Prev 12 of 40
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 one of the following is a source of cash? Multiple Choice Ο Repurchase of common stock Ο Acquisition of debt Ο Purchase of inventory Ο Payment to a supplier Ο Granting credit to a customer Which one of the following is a source of cash? Multiple Choice Ο Increase in accounts receivable Ο Decrease in common stock Ο Increase in fixed assets Ο Decrease in accounts payable Ο Decrease in inventory