92.Which of the following is true regarding fund classifications?
A)Governmental funds include the General, special revenue, debt service, capital projects, and permanent.
B)Proprietary funds include enterprise, internal service, and private-purpose.
C)Both of the above.
D)None of the above.
93.Notre DameUniversity, a private institution, has level “A” GAAP established by the:
A)American Institute of Certified Public Accountants.
B)Governmental Accounting Standards Board.
C)National Association of College and University Business Officers.
D)Financial Accounting Standards Board.
94.Long-term debt to be paid from proprietary funds is reported as a liability in
A) the proprietary fund Statement of Net assets (or Net Position).
B) the government-wide Statement of Net assets (or Net Position).
C) both A and B.
D) neither A nor B.
95.Which of the following are the governmental funds?
A)General, special revenue, debt service, capital projects, private purpose.
B)General, special revenue, debt service, capital projects, permanent.
C)General, special revenue, debt service, capital projects, internal service.
D)None of the above.
96.Which of the following is not an objective of federal financial reporting?
A) Budgetary Integrity
B)Increase Taxpayer Awareness
C) Stewardship
D)Operating Performance
97.Which of the following funds is considered a Fiduciary Fund?
A) Debt Service Fund
B)Enterprise Fund
C) Internal Service Fund
D)Pension Trust Fund
98.Which of the following statement(s) are
not
included in the proprietary funds for a government entity:
A) Statement of Revenues, Expenditures, and Changes in Fund Balances
B) Statement of Cash Flows
C)Statement of Net Position
D) All of the above are included
99.Capitalized fixed assets are reported in which of the following fund-basis statements?
A)Agencyfund
B) Proprietary fund
C) Governmental fund
D) All of the above
100.Which of the following fund types uses modified accrual accounting?
A)Enterprise
B) Internal Service
C) Investment Trust
D)Special Revenue
101.Which of the following fund types does
not
use modified accrual accounting?
A) Debt Service
B) Special Revenue
C) Investment Trust
D) Permanent