roy

Which of the following should not be reported as a liability of the General Fund? Which of the following should not be reported as a liability of the General Fund?  (Points : 2) General obligation bonds payable (due in 10 years). Vouchers payable. Tax anticipation notes payable. Due to federal government. Place Your Order Here!

Which of the following is a fiduciary fund?  (Points : 2) Investment trust fund. Special revenue fund. Debt service fund. Enterprise fund. Place Your Order Here!

The Town of Ashland levied property taxes in the amount of $800,000. The town estimates that 1 percent will be uncollectible. The journal entry to record the tax levy will include  (Points : 2) A debit to cash for $792,000. A credit to revenues for $792,000. A debit to estimated uncollectible current taxes for $8,000.

The body that has been established to recommend accounting and financial reporting standards for the federal government is the  (Points : 2) Financial Accounting Standards Board (FASB). Governmental Accounting Standards Board (GASB). Cost Accounting Standards Board (CASB). Federal Accounting Standards Advisory Board (FASAB). Place Your Order Here!

Which of the following is true regarding capital projects funds? Which of the following is true regarding capital projects funds?  (Points : 2) Encumbrances accounting is employed. Encumbrances accounting is not normally employed, but Estimated Revenues and Appropriations accounts are used. No budgetary accounts are ever used. All budgetary accounts are employed in the same

Which of the following steps in the acquisition of goods and services by an activity accounted for by the General Fund generally occurs first? Which of the following steps in the acquisition of goods and services by an activity accounted for by the General Fund generally occurs first?  (Points : 2) Disbursement. Appropriation. Encumbrance. Expenditure.

The account “Interfund Transfers In” would be classified in a General Fund statement of revenues, expenditures, and changes in fund balance as a(an)  (Points : 2) Revenue. Other financing use. Other financing source. Current liability

 With regard to depreciation of general capital assets, which of the following statements is correct? With regard to depreciation of general capital assets, which of the following statements is correct?  (Points : 2) Depreciation expense should be recorded in the appropriate governmental funds, and recorded in the governmental activities accounts. Depreciation expense must be recorded

When bonds are sold at a premium for a capital project, the premium amount generally When bonds are sold at a premium for a capital project, the premium amount generally  (Points : 2) Increases the cash available to the capital projects fund. Is transferred to the debt service fund. Is transferred to the General Fund.

Which of the following is not a budgetary account? Which of the following is not a budgetary account?  (Points : 2) Encumbrances. Reserve for Encumbrances. Estimated Revenues. Appropriations. Place Your Order Here!