ACCT266 Public Admin Fund Accounting CH6

ACCT266 Public Admin Fund Accounting CH6 - Question 1 1 out...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Question 1 1 out of 1 points Which financial statements are required for a proprietary fund? Answer Selected Answer: Statement of Revenues, Expenses and Changes in Net Assets, Statement of Net A and Statement of Cash Flows Correct Answer: Statement of Revenues, Expenses and Changes in Net Assets, Statement of Net A and Statement of Cash Flows Question 2 1 out of 1 points Which of the following is correct with respect to Internal Service Funds? Answer Selected Answer: Internal service funds use accrual accounting and the economic resource focus Correct Answer: Internal service funds use accrual accounting and the economic resource focus Question 3 1 out of 1 points GASB Statement 34 requires enterprise funds to be used under which of the following circumstances? Answer Selected Answer: When the legal requirement exists that the cost of providing services for an activity including capital costs, be recovered through fees or charges.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Correct Answer: When the legal requirement exists that the cost of providing services for an activity
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/23/2012 for the course ACCT 266 taught by Professor None during the Spring '12 term at Clark State Community College.

Page1 / 4

ACCT266 Public Admin Fund Accounting CH6 - Question 1 1 out...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online