1. Expenditures are used for which type of fund?

A. Fiduciary

B. Governmental

C. Proprietary

D. All of the above

2. Resources and activities related to which of the following fund would not be included in the government-wide financial statements?

A. Capital Projects Fund

B. Enterprise Fund

C. General Fund

D. Pension Trust Fund

3. Match the name of the equity section with the appropriate organization type: A) Fund Balance B) Net Assets C) Net Position D) Retained Earnings

1.	Corporation
2.	Governmental Fund
3.	Proprietary Fund
4.	Government Wide Financial
5.	Nonprofit hospital

4. The City of Beyerville levied property taxes for the fiscal year ended June 30, 2020 in the amount of $8,500,000. It is estimated that 2% will not be collected. During the year ended June 30, 2020, $7,700,000 in property taxes was collected. It is estimated that $400,000 will be collected during the next 60 days, $230,000 will be collected after 60 days and $170,000 will not be collected at all. What is the maximum amount Beyerville can recognize as property tax revenue for the fiscal year ended June 30, 2020 in its Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances, assuming there were no unpaid property taxes at the end of the previous year?

A. $7,700,000

B. $8,100,000

C. $8,330,000

D. $8,500,000

5. Given the previous facts, how much property tax revenue would be recorded on the Beyerville Government Wide Statement of Activities for the period ending June 30, 2020?

A. $7,700,000

B. $8,100,000

C. $8,330,000

D. $8,500,000

6. Like any regular businesses, governmental funds incur expenses during the fiscal year. True or False?

7. Match the basis of accounting with the following:

A) Full Accrual B) Modified Accrual

1	Governmental funds
2	Proprietary Funds
3	Fiduciary Funds
4	Governmental Wide Financial Statements
5	Non-Profit Financial Statements

8. Single audits are required when a governmental or nonprofit organization receives what minimum level of federal funding?

A. $250,000

B. $500,000

C. $750,000

D. Required when receiving any federal dollars

9. Which of the following does not use the economic resources measurement focus?

A. Proprietary funds

B. Governmental funds

C. Fiduciary funds

D. Government-wide funds

10. Which regulatory body sets the accounting standards?

A) GASB B) FASB

1	City of El Paso, TX
2	Portland State University
3	Mercy Corps (a nonprofit organization)
4	Centennial Medical Center ( a for profit hospital)

11. What type of activity might you normally see recorded using an Enterprise Fund?

A. City Hall

B. Water and Sewer

C. Fire Department

D. IT Department