1) Which of the following is not true regarding the Statement of Cash Flows for proprietary funds?

Multiple Choice

A) All of the choices are true statements.

B) The direct method is required for reporting cash flows from operations.

C) Interest and dividends received are recorded as investing activities.

D) Four categories of cash flows are used.

2) Where in the CAFR would one find the long-term liability for revenue bonds (paid from the revenues of an enterprise fund)?

Multiple Choice

A) The government-wide Statement of Net Position and the RSI Schedule of Bonds Payable.

B) The government-wide Statement of Net Position and the proprietary funds Statement of Net Position.

C) The proprietary funds Statement of Net Position only.

D) The government-wide Statement of Net Position only.

3) Which of the following is true regarding the governmental fund financial statements?

Multiple Choice

A) All of the choices are true.

B) The governmental fund Balance Sheet reflects the residual equity as Fund Balance.

C) The governmental fund financial statements are prepared on the current financial resources measurement focus and modified accrual basis of accounting.

D) The governmental fund financial statements include the Balance Sheet, and the Statement of Revenues, Expenditures, and Changes in Fund Balances.

4) The Revenues account of a government is credited when:

Multiple Choice

property taxes are collected.

budgetary accounts are closed at the end of the year.

property taxes are levied.

the budget is recorded in the accounts.