93.When recording property taxes, the estimated uncollectible amount of property taxes is:
A) Recognized as an expenditure.
B) Recognized as a reduction of revenue.
C) Not recognized.
D) None of the above.
94.Interfund services purchased by the General Fund are recognized as:
A) Transfers Out.
B) Expenditures.
C) Decreases in Fund Balance.
D) None of the above.
95.A December 2014 year-end government should record which of the following as expenditures:
A) Salaries Payable due January 20, 2015.
B) Bond Payable that matures January 30, 2015.
C) Bond Payable that matures February 14, 2015.
D) Both A & B.
96.When delinquent taxes are written off:
A) Fund balance will decrease
B) Fund balance will be unaffected
C) Expenditures will increase
D) Both a and c.
97.In February, X City ordered $500,000 of supplies. On March 17th it received all of the ordered supplies and an invoice of $492,000. Which of the following would be recorded upon receipt of the supplies and invoice?
A)Debit Encumbrances Control for $500,000.
B)Debit Budgetary Fund Balance -- Reserve for Encumbrances for $492,000.
C)Debit Encumbrances Control for $492,000.
D)Debit Budgetary Fund Balance -- Reserve for Encumbrances for $500,000.
98.Debt service expenditures for interest are:
A) Accrued.
B) Recorded when due but may be accrued at year end if the debt service due date is less than 30 days after year end.
C) Recorded when due but may be accrued at year end if the debt service due date is less than 60 days after year.
D) Reported only in the government-wide statements.
99.When closing out the General Fund and Special Revenue Funds of a state or local governmental unit, the balance of the operating statement accounts and the balances of the budgetary accounts are closed to:
A) Budgetary Fund Balance – Reserved for Encumbrances.
B) Fund Balance.
C) Other Financing Sources – Transfer Out.
D) Appropriations Control.
100.When the materials and supplies are received and the invoice is more than the related purchase order, this entry should be made:
A) Debit Expenditures Control for the amount of the invoice.
B) Debit Expenditures Control for the amount of the purchase order.
C) Credit Accounts Payable for the amount of the purchase order.
D) Credit Encumbrances Control for the amount of the invoice.
101.The term special item is defined as:
A) Frequent and unusual but within management’s control.
B) Unusual or infrequent but within management’s control.
C) Frequent and unusual and not within management’s control.
D) Unusual or infrequent and not within management’s control.
102.Under which fund type would you debit expenditure when land is acquired?
A) Governmental
B) Proprietary.
C) Both of the above.
D) None of the above.