1. A blended component unit of a county is most likely to:

a.Adopt its own budget.

b.Exist to provide services to the primary government.

c.Issue bonds for which the component unit is financially obligated.

d.Have a minority of board members that are employed by the primary government.

2.Which fund reports its operating results in a statement of revenues, expenses, and changes in net position?

a.General fund

b.Special revenue fund

c.Internal service fund

d.Debt service fund

3.The activities of which fund type do not appear in the governmental activities section of the government-wide financial statements?

a.Special revenue fund

b.Permanent fund

c.Custodial fund

d.Capital projects fund