Government-wide financial statements present the government's financial position using the: b. economic resources measurement focus and the modified accrual basis of accounting. a. acquisition of a building to be used by the police department. %%EOF Which of the following is a difference between enterprise funds and internal service funds? Fiduciary funds use a basis of accounting similar to which of the following funds? Although this is consider a custodial fund, it should be reported in a separate external investment pool fund column under the custodial funds classification. Fiduciary funds are not reported at the government-wide level. Which of the following would increase the governmental activities balance in net position - net investment in capital assets? Which of the following properly portrays the components of net position for proprietary funds? Governmental funds include the general fund, special revenue funds, capital projects funds, debt service funds, and permanent funds. �0�Y ��@b#�;����H4����w� �6 Each of the following are reported as fiduciary funds except: Which of the following statements regarding the financial reporting of agency funds is not true? Net investment in capital assets, restricted, unrestricted. When a cash and investment pool of a certain city was established, the debt service fund transferred investments to the pool having a cost of $3,000,000 but a current fair market value of $3,100,000. B) Custodial funds use the temporary accounts Additions and Deductions. Which of the following accounts is least likely to be used by a tax custodial fund? Which of the following is the appropriate measurement focus for custodial funds? Which of the following activities would be recorded by a trust fund? When the investment pool earns interest on investments in bonds, pending allocation to participating funds, it would credit which of the following accounts? How should each trust fund type be reported in the Fiduciary Fund? Fiduciary funds use a basis of accounting similar to which of the following funds? Assets held for college scholarships to be awarded to the children of police officers. When a supplies internal service fund records a billing to the General Fund, the journal entry in the internal service fund will include: Which of the following illustrates the appropriate basis of accounting for enterprise and internal service funds? Agency funds typically involve only the receipt, temporary investment and remittance of fiduciary resources to individuals, private organizations or other governments. Fiduciary funds do not provide a statement of cash flows, only proprietary funds prepare statement of cash flows. How are defined benefit pension plans classified? c. to provide info that can be used to assess a government's accountability. ... that will be submitted to the appropriate taxing bodies when due. A) Taxes collected by a county government on behalf of cities within the county. When an investment pool is created, the assets of each fund entering the pool should be transferred to the pool at their fair value at the date of the transfer. h�bbd``b`��/@�F �:H05 fKDp�]�� ��W4H� Which of the following is the appropriate basis of accounting for an agency fund?
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