34. A sewer fund temporarily invests the proceeds from Issuing revenue bonds in U.S. Treasury bills and receives Interest of $50,000. In the sewer fund cash flow statement, the receipt would be reflected as cash flow from: A) Investing activities B) Operating activities C) Non-capital financing activities D) Capital and related financing activities 35. Self-Insurance activities usually appear in: A) Private Purpose Funds B) Internal service funds C) Enterprise funds D) Special revenue funds 36. Which of the following activities would not normally be accounted for in an enterprise fund: A) Public parking garage B) Golf course C) Electric utility D) Government stockroom 37. ABC County, whose fiscal year ends 12/31/18, issued Bond Anticipation Notes (BANS) On 10/1/18. During February, 2019 before the 2018 financial statements were issued, ABC County replaced the BANs with a 10 year term bond. On which of ABC's 12/31/18 financial statements would a liability for the BANs appear? Governmental Fund Government-Wide Statement NO NO NO YES YES NO YES YES For Questions 38-40, please answer True (A) or False (B) 38. If user charges are paid by third parties, then a government would use an internal service fund? A) True B) False 39. Term bonds typically carry a higher interest rate than serial bonds? A) True B) False 40. Municipal debt typically carries a higher interest rate than corporate debt? A) True B) False 34. A sewer fund temporarily invests the proceeds from Issuing revenue bonds in U.S. Treasury bills and receives Interest of $50,000. In the sewer fund cash flow statement, the receipt would be reflected as cash flow from: A) Investing activities B) Operating activities C) Non-capital financing activities D) Capital and related financing activities 35. Self-Insurance activities usually appear in: A) Private Purpose Funds B) Internal service funds C) Enterprise funds D) Special revenue funds 36. Which of the following activities would not normally be accounted for in an enterprise fund: A) Public parking garage B) Golf course C) Electric utility D) Government stockroom 37. ABC County, whose fiscal year ends 12/31/18, issued Bond Anticipation Notes (BANS) On 10/1/18. During February, 2019 before the 2018 financial statements were issued, ABC County replaced the BANs with a 10 year term bond. On which of ABC's 12/31/18 financial statements would a liability for the BANs appear? Governmental Fund Government-Wide Statement NO NO NO YES YES NO YES YES For Questions 38-40, please answer True (A) or False (B) 38. If user charges are paid by third parties, then a government would use an internal service fund? A) True B) False 39. Term bonds typically carry a higher interest rate than serial bonds? A) True B) False 40. Municipal debt typically carries a higher interest rate than corporate debt? A) True B) False
