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E18-4 Multiple choice

1. Which of the following is not a governmental fund?

a Special revenue fund

b Debt service fund

c Trust fund

d General fund

2. Which of these funds generally follows the accrual basis of accounting?

a General fund

b Internal service fund

c Debt service fund

d Special revenue fund

3. Which of the following funds will report fixed assets in the fund financial statements?

a General fund

b Special revenue fund

c Debt service fund

d None of the above

4. Which of the following funds would not be included in governmental fund financial

statements?

a Debt service fund

b General fund

c Pension trust fund

d Permanent fund
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5. Which of the following funds would be used to account for an activity that provides

goods or services to other funds?

a General fund

b Enterprise fund

c Debt service fund

d Internal service fund

E18-6 Identification of fund type

1. capital projects funds

2. enterprise funds

3. general funds

4. debt service

5. permanent funds

6. special revenue funds

7. internal service funds

8. trust and agency funds

E18-7 Transaction analysis government funds

1.current assets -30,000

current liabilities +2,500

fund balance -32,000

_________

2. current assets 98,000

current liabilities -100,000

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fund balance 98,000

3. current assets 60,000

current liabilities 60,000

fund balance 120,000

___________

4.current assets

current liabilities 60,000

fund balances

______________

5. current assets 600,000

current liabilities 0

fund balance 600,000

_______________

6. current assets 25,000

current liabilities

fund balance 25,000

______________

7. current assets 1,200

current liabilities

fund balance 1,200

_____________

8. current assets -50,000

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current liabilities -50,000

fund balance -0

E18-8 Transaction analysis proprietary funds

1/ current assets -30,000

noncurrent assets

current liabilities 2,500

long term liabilities

net assets -32,500

___________

2. current assets 98,000

noncurrent assets 0

current liabilities

long tern liabilities

net assets 98,000

______________

3. current assets 0

noncurrent assets 60,000

current liabilities 0

long term liabilities 60,000

net assets 120,000

______________
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4. current assets 60,000

noncurrent assets 0

current liabilities

long term liabilities

net assets 60,000

____________

5. current assets 600,000

noncurrent assets 0

current liabiliteis 0

long term liabilities 600,000

net assets

_______________

6. current assets -25,000

noncurent assets

current liabilities 25,000

long term liabilities

net assets 0

______________

7. current assets 1,200

noncurrent assets

current liabilites

long term liabilities 50,000

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net assets

_____________

8. current assets 0

noncurrent assets 0

current liabilities

long term liabilities 50,000

net assets -50,000