1-The fund financial statements for governmental funds should include a

A: Balance sheet for fiduciary funds B: Statement of revenues, expenditures, and changes in fund balances. C: tatement of cash flows. D; All of the above

2- Which of the following terms refers to an actual cost rather than an estimate?

A; Budget, B: Encumbrance, C: Expenditure, D : Appropriation

3- Equity in a special Revenue fund is known as ?

A: Restricted net assets, B; Fund balance. C: Invested in capital assets, D: Net postion

4- The government fund of a state or local government should report interfund transfers as?

A: Other financing sources or uses, B: Items appearing after nonoperating revenues and expenses in the operating statement, C: Revenue or expenditures, D: Appropriation or liabilities

5- Under which basis of accounting is it appropriate to recognize expenses that expenditures?

A: cash, B: Modified cash, C : accrual, D: modified accrual