1. Which of the following are eliminated from the financial statements under GASB 34?a Gen...

1. Which of the following are eliminated from the financial statements under GASB 34?

a General long-term debt account group

b General fixed asset account group

c Both a and b

d None of the above

2. An expense would be reported in which of the following funds?

a General fund

b Internal service fund

c Debt service fund

d Special revenue fund

3. A component unit

a Is financially accountable to the primary government

b Must be discretely presented in a primary government’s CAFR

c Is excluded from a primary government’s CAFR

d Is a legally separate organization for which the primary government is financially accountable

4. Budgetary comparison information must be presented for the

a Debt service fund

b General fund

c Pension fund

d Permanent trust fund

5. Required supplementary information includes

a Schedule(s) of funding progress of pension plans

b Schedule(s) of employer contributions to pension plans

c Budgetary comparison schedules for the general and special revenue funds

d All of the above