1.The Net Position is different from capital in a business organization because:

a.Not equity account

b.It reports net investment in assets

c.It reports restricted fund

d.It reports unrestricted

e. Only b,c and d are true.

TRUE OR FALSE

12. T/F. Enterprise Funds use economic resource measurement focus and accrual basis of accounting.

13. T/F. Budgetary Accounts can only be used when required by law.

14.T/F Statement of Cash Flows maintain the same structure as those in the private sector.

15. T/F. A major contentious issue with Internal Service Fund is the distribution of losses to various contributing units.