Gov&Nonprofit

Points Awarded 95.00

Points Missed 5.00

Percentage 95.0%

1.

Enterprise Funds and Internal Service Funds are part of the larger category of Proprietary Funds.

A) True

B) False

Table for Individual Question Feedback

Points Earned: 5.0/5.0

Correct Answer(s): True

2.

Centralized purchasing, computer services, and janitorial services are examples of activities that are commonly reported in:

A) Enterprise funds.

B) Capital project funds.

C) Debt service funds.

D) Internal service funds.

Table for Individual Question Feedback

Points Earned: 5.0/5.0

Correct Answer(s): D

3.

Internal service funds account for

A) Activities that produce goods or services to be provided to other governmental units on a cost reimbursement basis.

B) Activities that produce goods or services to be provided to outside consumers units on a cost reimbursement basis.

C) Both A and B.

D) None of the above.

Table for Individual Question Feedback

Points Earned: 5.0/5.0

Correct Answer(s): A

4.

An example of an activity that would not normally be accounted for in an internal service fund would be:

A) Motor pool.

B) Print shop.

C) Garbage collection.

D) Central storeroom.

Table for Individual Question Feedback

Points Earned: 5.0/5.0

Correct Answer(s): C

5.

An example of an activity that would not normally be accounted for in an enterprise fund would be:

A) Swimming pool.

B) Printing Services.

C) Airport.

D) Lottery.

Table for Individual Question Feedback

Points Earned: 5.0/5.0

Correct Answer(s): B

6.

Which financial statements are required for a proprietary fund?

A) Income statement, Statement of Net Position and Statement of Cash Flows

B) Statement of Revenues, Expenses and Changes in Fund Net Position, Statement of Net Position and Statement of Cash Flows

C) Statement of Revenues, Expenses and Changes in Fund Balance and Statement of Net Position, and Statement of Cash Flows

D) Statement of...