1) Assume that the city of Troys governmental funds have total expenditures and revenues of $10 million, total assets of $5 million, and total liabilities of $20 million. Its proprietary funds have total expenses and revenues of $3 million, and total assets and liabilities of $1 million. Which of the following would be a minor fund?

		A special revenue fund with $100,000 in assets, $50,000 in liabilities, revenues of $2 million, and expenditures of $2 million
		A debt service fund with zero revenues, expenditures of $900,000, assets of $5,000, and zero liabilities
		An enterprise fund with revenues and expenses of $800,000, assets of $300,000, and liabilities of $1 million
		An enterprise fund with revenues and expenses of $300,000, assets of $750,000, and liabilities of $800,000

2) Assume that the city of Troys governmental funds have total expenditures and revenues of $10 million, total assets of $5 million, and total liabilities of $20 million. Its proprietary funds have total expenses and revenues of $3 million, and total assets and liabilities of $1 million. Which of the following would be a minor fund?

		A special revenue fund with $100,000 in assets, $50,000 in liabilities, revenues of $2 million, and expenditures of $2 million
		A debt service fund with zero revenues, expenditures of $900,000, assets of $5,000, and zero liabilities
		An enterprise fund with revenues and expenses of $800,000, assets of $300,000, and liabilities of $1 million
		An enterprise fund with revenues and expenses of $300,000, assets of $750,000, and liabilities of $800,000

3) Assume the City of Troy started a landfill in Year1. The eventual closure costs are expected to be $2 million, and the landfill is expected to be used for 20 years, with an equal amount of garbage being put into the landfill each year. It is now the end of year three. Which of the following would you expect to see with regard to these closure costs in the Troy financial statements?

		A $100,000 liability in the government-wide statement of position, and a $100,000 expense in the government-wide statement of activities
		A $300,000 liability in the government-wide statement of position, and a $100,000 expense in the government-wide statement of activities
		A $100,000 liability in a government fund balance sheet, and a $100,000 expenditure in a government fund statement of revenues, expenditures, and fund balances
		A $300,000 liability in a government fund balance sheet, and a $100,000 expenditure in a government fund statement of revenues, expenditures, and fund balances

4) The city of Troy has a July 1 to June 30 fiscal year. It assesses property taxes on this same fiscal year basis. Assume that on June 1, 2020, it mails out property tax bills that apply to the fiscal year ending June 30,2021. It collects the following: 100,000 in June, 2020; $3,000,000 between July 1, 2020, and June 30^th, 2021; $200,000 in July 2021, $80,000 in August, 2021; $70,000 in September 2021, and expects to eventually collect another $50,000. Under modified accrual, what are the property tax revenues for the fiscal year ended June 30, 2021?

		$3,000,000
		$3,100,000
		$3,380,000
		$3,450,000
		$3,500,000