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Question : 11.Encumbrances would not appear in which fund? a.General b.Enterprise c.Capital projects d.Special revenue 12.Which type

11.Encumbrances would not appear in which fund?

a.General

b.Enterprise

c.Capital projects

d.Special revenue

12.Which type of fund can be either expendable or nonexpendable?

a.Debt service

b.Enterprise

c.Trust

d.Special revenues

13.Which of the following funds frequently does not have a fund balance?

a.General fund

b.Agency fund

c.Special revenue fund

d.Capital projects fund

14.A city should record depreciation as an expense in its

a.general fund and enterprise fund.

b.internal service fund and general fixed-assets group of accounts.

c.enterprise fund and internal service fund.

d.enterprise fund and capital projects fund.

15.Part of the general obligation bond proceeds from a new issuance was used to pay for the cost of a new city hall as soon as construction was completed.  The remainder of the proceeds was transferred to repay the debt.  Entries are needed to record these transactions in the

a.general fund and general long-term obligations group of accounts.

b.general fund, general long-term obligations group of accounts, and debt-service fund.

c.trust fund, debt-service fund, and general fixed-assets group of accounts.

d.general long-term obligations group of accounts, debt-service fund, general fixed-assets group of accounts, and capital projects fund.

16.One of the differences between accounting for a governmental unit and a commercial unit is that a governmental unit should

a.not record depreciation expense in any of its funds.

b.always establish and maintain complete self-balancing accounts for each fund.

c.use only the cash basis of accounting.

d.use only the modified accrual basis of accounting.

17.When a truck is received by a governmental unit, it should be recorded in the General Fund as a(n)

a.appropriation.

b.encumbrance.

c.expenditure.

d.fixed asset.

18.Which of the following should be accrued as revenues by the general fund of a local government?

a.Sales tax held by the state which will be remitted to the local government

b.Parking meter revenues

c.Sales tax collected by merchants

d.Income taxes currently due

19.Which of the following funds of a governmental unit recognizes revenues and expenditures under the same basis of accounting as the general fund?

a.Debt service

b.Enterprise

c.Internal service

d.Nonexpendable trust

20.The general fixed-assets group of accounts for a municipality can best be described as

a.a fiscal entity.

b.an accounting entity.

c.an integral part of the general fund.

d.the only fund in which to properly account for fixed assets.

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