13.

Identify and briefly describe the three organizations that set standards for state and local governments, the federal government, and nongovernmental not-for-profit organizations.

17.

Distinguish between private and public sector organization.

19.

For each of the items below, identify which fund(s) would be used to account for the item and provide a justification for your answer.

1. A city government issued general obligation bonds to finance the construction of a new jail.

2. A tax of $1.00 per residential phone number is collected by a city government from the phone company. This amount is required by state law to be used for the operation of the 911 emergency phone system.

3. A county government expended $1 million to expand the water treatment plant.

4. A donor signed a trust agreement and provided investments totaling $4 million to create an endowment, the earnings of which will be used to provide scholarships.

5. A donor provided $50,000 to be used to purchase newspaper and magazine subscriptions for the public library. There is no requirement that the original principal may not be spent.

6. A city government sold surplus street maintenance trucks for $10,000.

7. A city government contributed $500,000 to a pension trust administered by the city for its teachers, public safety employees, and employees of the water department.

22.

With regard to GASB rules for the financial reporting entity, define

1. The financial reporting entity.

2. A primary government; give an example.

3. A component unit; give an example.

4. And describe the two methods of reporting the primary government and component units in the financial reporting entity.

24.

Describe the test for determining whether a governmental fund is a major fund. Describe the test for determining whether an enterprise fund is a major fund

212.

Use the CAFR information for the City of Salem (Illustrations 2-2 through 216) to find the following items. Each item will appear in two separate financial statements. In your answer indicate both financial statements that contained the information item and the dollar amount.

	Information Item	Statements		$ Amount
Ex	Investments held by the Enterprise Funds	Statement of Net PositionProprietary Funds	Governmentwide Statement of Net Position	$10,350,334
A.	Total fund balance of the Special Revenue Fund
B.	Net resources (i.e., net position) available for employee pensions
C.	Operating income for the Internal Service Funds
D.	Net resources (i.e., net position) of the primary government