1. Which of the following distinguishes governments from nongovernmental not-for-profit organizations? A. Absence of profit motive. B. The power to enact and enforce a tax levy. C. Resource providers do not expect benefits proportional to the resources provided. D. Absence of a defined ownership interest that can be sold, transferred, or redeemed. 2. On what should the government-wide financial statements report? A. Net assets and results of financial operations of the government as a whole. B. Fiscal accountability. C. The cost of government services. D. Budgetary compliance. 3. The fund financial statements for governmental funds should include a A. Statement of cash flows. B. Statement of revenues, expenses, and changes in fund net assets. C. Balance sheet. D. Statement of activities. 4. Which of the following types of organizations may be subject to FASB jurisdiction? A. A state hospital. B. A college or university. C. A public school district. D. A public sanitation district. 5. Which of the following funds would be most appropriate for accounting for an activity that provides goods or services to the public for a fee that is intended to make the activity self-supporting? A. Investment trust fund. B. Enterprise fund. C. Internal service fund. D. Special revenue fund. 6. Which of the following funds should be used if resources provided by a federal grant must be segregated and used for counseling of youthful offenders? A. Private-purpose trust fund. B. Enterprise fund. C. Internal service fund. D. Special revenue fund. 7. Which of the following funds would be used to account for an activity that provides centralized purchasing and sales of goods or services to other departments or agencies of the governmental, or to other governments, on a cost-reimbursement basis? A. Enterprise fund. B. Fiduciary fund. C. Internal service fund. D. Permanent fund. 8. Budgetary comparison schedules presenting budgeted versus actual revenues and expenditures are A. Optional under GASB standards for all funds. B. Required by GAAP for internal management reports only; not permitted for external financial reporting. C. Required by GAAP for the General Fund and major special revenue funds for which an annual budget has been legally adopted. D. Required by GAAP for all governmental fund types