1) Which of the following funds uses a formally adopted budget?

Select one:

a. Pension Trust Fund

b. Custodial Fund

c. Investment Trust Fund

d. None of the above

2) Collection of property taxes that must be distributed to other funds should be recorded in a Custodial Fund as a debit to Cash and a credit to which type of account?

Select one:

a. Asset

b. Liability

c. Additions

d. Deductions

3) Grant County matches employee retirement contributions at 50%. When the police department salaries are paid, an entry is (or entries are) recorded in the:

Select one:

a. Pension Trust Fund

b. General Fund

c. General Fund and Pension Trust Fund

d. General Fund, Pension Trust Fund, and Investment Trust Fund