1. Define fund.

2. What is the statement classification of funds for current purposes? Funds for noncurrent purposes.

3. Explain the measurement of fund.

4. What is the formula in computing the annual contribution or one time contribution to the sinking fund?

5. Explain the statement classification of sinking fund.

6. What is the meaning of cash surrender value? How is cash surrender value classified in the statement of financial position?

7. What are the requisites in order that an insurance policy will have a cash surrender value?