1. 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

2. 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

3. 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

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

5. 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)