1)FASB requires that interest paid and received be classified as operating activities. GASB require interest to be shown in the Statement of Cash Flows in which of the following - Operating, Investing, or Financing? (one word)

2)Fiduciary funds are usually used to primarily account for what type of resources? ( one word)

3)Which of the following are reconciling items between an Enterprise fund reporting and government-wide reporting? (multiple answers allowed, incorrect answers will reduce correct answers) a. contingent liabilities need to be adjusted and recorded b. none depreciation must be adjusted back . long term debt has to be adjusted e. long term assets have to be adjusted

4)A donation is made to McNeese. The requirement is that the donation be preserved and only the interest is to be used for the university's exempt purpose. This is called a (n): (one word)