1. Which of the following is true regarding proprietary fund accounting: the economic resources measurement focus and accrual accounting are used, capital assets are recorded in the accounts and depricated, both of the above, neither of the above.
2. which of the following is true regarding agency funds: agency funds report assets and liabilities but not net asets, revenues or expenses, agency funds are often used to account for property tax collections by county governments for other governments, both of the above, neither of the above.
3. which full accrual accounting is used the terms additionns and deductions are used in the statement of change in fiduciary net assets in lieu of revenues and expenses: both of the above, neither of the above
4. In an agency fund assets are equal to : liabilities + net assets, net assets, liabilities, there are no assets in an agency fund.
5. The operations of agency funds will be included in which of the following statements: The fiduciary funds statement of fund net assets, the statemnt of changes in net asets, the government wide financial statement, all of the above.
6. which of the following is true regarding the reporting of general fixed assets by state and local government: Fixed assets are reported in the government funds balance sheet, fixed assets are reported in the government wide statement wide statement of net assets, both of the above, neither of the above.
7. Which of the following is true regarding the government wide statement of net assets: Discretely presented component units are reported separtely, government and business type activities are reported separtely and are consolidated within columns, both of the above, neither of the above
8. Resources and activity related to which of the following fund types is not included in the government wide financial statement: General fund, Capital project fund, enterprise fund, pension trust fund.