ACCT 567 Week 4 Midterm (Version 6)
Multiple Choice
- (TCOs A and B)Fiduciary funds are to use which of the following measurement and basis of accounting?
- (TCOs A and B)Funds other than the General Fund are required to be considered to be a major fund when
- (TCOs A and B) Which of the following is most correct with regard to Management’s Discussion and Analysis?
- (TCOs B and C) With regards to budgetary reporting by governmental entities, which of the following is not a true statement?
- (TCOs B and C) The proper journal entry to record an encumbrance would include which of the following?
- (TCOs B and C)) Capital assets that are used by an enterprise fund should be accounted for in the following fund?
- (TCO E) When a government acquires general fixed assets ………. government-wide financial statements?
- (TCO E) Which of the following projects would usually be accounted for in a capital projects fund?
- (TCO E) Which of the following statements is a true statement regarding the reporting of debt service funds?
- (TCO D) Under GASB Statement No. 33, when would a special revenue fund be considered ……..reimbursement type federal grant?
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STATUS
Essay
- (TCO E) You are in a staff meeting with the city controller and one of your colleagues was quoted as follows: “………..acquired by construction.” Do you agree with this statement? Why or why not?
- (TCOs A and B) How are the major funds of a state or local government determined by a governmental entity?
