1. Which of the following would always be classified as a general revenue?

Multiple Choice

Grant proceeds.

Special assessment charges for snow removal.

Fuel taxes earmarked for maintenance of roads and bridges.

2. Which of the following accounts is a budgetary account of a governmental fund?

Multiple Choice

Appropriations.

Expenditures.

Other Financing Sources.

Encumbrances.

3. The city amended its budget to increase expected grant revenues by $500,000 and increase expected culture and recreation expenditures by $500,000. Which of the following statements concerning the budget amendment journal entry is correct?

Multiple Choice

There will be no adjustment to Budgetary Fund Balance.

Estimated Revenues will be credited for $500,000.

Expenditures will be debited for $500,000.

Appropriations will be debited for $500,000.

4. Under the modified accrual basis of accounting used by the General Fund, financial resources are considered available if the revenue or other financing source is expected to be collected

Multiple Choice

During the current fiscal period or soon enough after year-end to pay current period obligations.

Within 90 days after year-end.

Within 60 days after year-end.

During the current fiscal period.