Governmental and Nonprofit Accounting (11th Edition)
11th Edition
ISBN: 9780133799569
Author: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott
Publisher: PEARSON
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Textbook Question
Chapter 2, Problem 2.4E
The operations of a municipal swimming pool with debt secured solely by charges to users should be accounted for in
- a. a Special Revenue Fund.
- b. the General Fund.
- c. an Internal Service Fund.
- d. an Enterprise Fund.
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Students have asked these similar questions
In a governmental fund, which of the following is considered an expenditure? a. The purchase of a capital asset b. The consumption of supplies c. Salaries earned by employees d. All of the above
Which of the following is an example of an interactivity transaction?a. Money is transferred from the general fund to the debt service fund.b. Money is transferred from the capital projects fund to the general fund.c. Money is transferred from the special revenue fund to the debt service fund.d. Money is transferred from the general fund to the enterprise fund.
Which of the following is an example of an interactivity transaction?
Money is transferred from the general fund to the debt service fund.
Money is transferred from the capital projects fund to the general fund.
Money is transferred from the special revenue fund to the debt service fund.
Money is transferred from the general fund to the enterprise fund.
Chapter 2 Solutions
Governmental and Nonprofit Accounting (11th Edition)
Ch. 2 - Governmental accounting systems are different from...Ch. 2 - Funds used in state and local government...Ch. 2 - Prob. 3QCh. 2 - Why are a municipalitys general capital assets and...Ch. 2 - Prob. 5QCh. 2 - Under what circumstances should a government use a...Ch. 2 - Identify the fund types that are classified as...Ch. 2 - Prob. 8QCh. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Define interfund loans and interfund transfers,...Ch. 2 - Prob. 12QCh. 2 - Prob. 13QCh. 2 - What is the accounting equation for a governmental...Ch. 2 - Prob. 15QCh. 2 - Prob. 16QCh. 2 - Prob. 17QCh. 2 - Prob. 18QCh. 2 - Prob. 1.1ECh. 2 - Financial assets include a. capital assets that...Ch. 2 - All of the following are considered governmental...Ch. 2 - Each of the following is a fiduciary fund except...Ch. 2 - Prob. 1.5ECh. 2 - Which of the following transactions would not be...Ch. 2 - The transactions associated with a Community...Ch. 2 - The city of Hannah has established a trust to...Ch. 2 - A transaction in which a municipal electric...Ch. 2 - Prob. 1.10ECh. 2 - The operations of a municipal governments public...Ch. 2 - The proceeds of a federal grant made to assist in...Ch. 2 - The receipts from a special tax levy to retire and...Ch. 2 - The operations of a municipal swimming pool with...Ch. 2 - Prob. 2.5ECh. 2 - A municipalitys issuance of general obligation...Ch. 2 - Expenditures of 200,000 were made during the year...Ch. 2 - The activities of a central motor pool that...Ch. 2 - A city collects property taxes on behalf of the...Ch. 2 - A transaction in which a municipal electric...Ch. 2 - (Fund and Nonfund Accounts Identification)...Ch. 2 - Prob. 4ECh. 2 - Prob. 5ECh. 2 - Prob. 6ECh. 2 - Prob. 7ECh. 2 - Prob. 8ECh. 2 - Prob. 9ECh. 2 - Prob. 10ECh. 2 - a. Analyze the effects of each of the following...Ch. 2 - a. Analyze the effects of the following...Ch. 2 - Prob. 3PCh. 2 - Prob. 4PCh. 2 - Prob. 5PCh. 2 - Prob. 6PCh. 2 - (State of CaliforniaFund Identification) The...Ch. 2 - a. Analyze the effects of the following...
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- The billings for transportation services provided to other governmental units are recorded by the internal service fund as? A. Intergovernmental transfers. B. Interfund exchanges. C. Charges for services. D. Transportation Appropriation explainarrow_forwardIdentify the letter that best describes the accounting and reporting by the following funds and account groups:1. Enterprise fund fixed assets.2. Capital projects fund.3. General fixed assets.4. Infrastructure fixed assets.5. Enterprise fund cash.6. General fund.7. Agency fund cash.8. General long-term debt.9. Special revenue fund.10. Debt service fund.a. Accounted for in a fiduciary fund.b. Accounted for in a proprietary fund.c. Accounted for in a quasi-endowment fund.d. Accounted for in a self-balancing account group and included in financial statements.e. Accounted for in a special assessment fund.f. Accounts for major construction activities.g. Accounts for property tax revenues.h. Accounts for payment of interest and principal on tax-supported debt.i. Accounts for revenues from earmarked sources to finance designated activities.j. Reporting is optional.arrow_forwardGovernments often provide goods and services to citizens or other governmental units at a fee. These activities are accounted for in: a. the general fund b. governmental funds c. proprietary funds d. special revenue fundsarrow_forward
- 3. A government-wide statement of net position may include a column for each of the following except: A. business type activities B. component units C. governmental activities D. major funds 4.Which type of interfund transactions result in one fund reporting revenues? A. interfund advances B. interfund services provided and used C. reimbursements D. transfersarrow_forwardWhat is the purpose of enterprise funds? Choose the correct.a. To account for operations that provide services to other departments within a government.b. To account for asset transfers.c. To account for ongoing activities such as the police and fire departments.d. To account for operations financed in whole or in part by outside user charges.arrow_forwardFor a government that has a trust fund in which it is accumulating sufficient assets to pay OPEB, the net OPEB liability should be reported in both the governmental fund balance sheet and the government- wide statement of net position. A. True B. Falsearrow_forward
- Revenues that are legally restricted to expenditures for specified purposes should be accounted for in special revenue funds, includinga. accumulation of resources for payment of general long-term debt principal and interest.b. pension trust fund revenues.c. gasoline taxes to finance road repairs.d. proprietary fund revenues.arrow_forwardWhich of the following is a governmental fund? Special revenue fund Internal service fund Capital projects fund Debt service fundarrow_forwardUnreserved Fund Balance in Governmental entities is equal to which of the following in commercial entities: a. Bond sinking Fund b. Retained earnings c. Capital Stock d. Unearned revenuearrow_forward
- If an internal service fund is intended to operate on a cost-reimbursement basis, then user charges should a. cover the full costs, both direct and indirect, of operating the fund. b. cover the full costs of operating the fund and provide for future expansion and replacement of capital assets. c. cover at a minimum the direct costs of operating the fund. d. do all of the above.arrow_forwardThe billings for transportation services provided to other governmental units are recorded by the internal service fund asa. other financing sources.b. intergovernmental transfers.c. transportation appropriations.d. operating revenues.arrow_forwardVouchers payable denote: a. A future liability estimated when order is made b. Amount due to government from user charges c. A liability incurred when goods/services are received d. Amount payable by government on long term debts Question 2 Question text Which of the following is not an example of the function of an Agency Fund? a. Collection of property tax by one government unit for the other b. All the options listed c. Payment of interest and principle on long-term debt d. Collection of local government sales taxes by the state governmentarrow_forward
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