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Accounting Assignment | Buy Homework Help

1. Internal service funds are reported:

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a. With governmental funds on the fund financial statements

b. With governmental funds on the government-wide statement of net assets

c. With proprietary funds on the government-wide statement of net assets

d. All of the above

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2. Which of the following is not a fiduciary fund?

a. Agency fund

b. Trust fund

c. Permanent fund

d. All of the above are fiduciary funds

3. The proprietary fund statement of cash flows includes all of the following sections except.

a. Cash flows from operating activities

b. Cash flows from investing activities

c. Cash flows from the capital and related financing activities

d. Cash flows from non-capital investing activities

4. The accounting equation for proprietary funds is:

a. Current assets – Noncurrent assets – All liabilities = Fund balance

b. Current assets – Noncurrent assets – All liabilities = Net assets

c. Current assets + Noncurrent assets – All liabilities = Net assets

d. Assets = Liabilities

5. The accounting equation for agency funds is

a. Current assets – Noncurrent assets – All liabilities = Fund balance

b. Current assets – Noncurrent assets – All liabilities = Net assets

c. Current assets + Noncurrent assets – All liabilities = Net assets

d. Assets = Liabilities

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