32. All NNOs have current restricted funds and unrestricted funds EXCEPT A) VHWOs B) colleges and universities C) ONNOs D) hospitals 33. Part of the general obligation bond proceeds from a new issuance was used to pay for the cost of a new city hall as soon as construction was completed. The remainder of the proceeds was transferred to repay the debt. Entries are needed to record these transactions in the: A) general fund and debt-service fund. B) trust fund and debt-service fund. C) debt-service fund and capital projects fund. D) general fund and capital projects fund. 34. What journal entry should be made at the end of the fiscal year to close out encumbrances for which goods and services have not been received? A) Debit reserve for encumbrances and credit fund balance. B) Debit fund balance and credit encumbrances. C) Debit encumbrances and credit reserve for encumbrances. D) Debit reserve for encumbrance and credit encumbrances. 35. A municipality's capital projects fund is similar to a university's: A) retirement of indebtedness fund. B) investment in plant fund. C) renewals and replacements fund D) none of these. 36. Bell Foundation, a voluntary health and welfare organization, supported by contributions from the general public, included the following costs in its statement of functional expenses for the year ended December 31, 2017. Fund raising $1,000,000 Administrative 600,000 Research200,000 Bell's functional expenses for 2017 program services included: A) $1,800,000. B) $200,000. C) $600,000 D) $1,000,000