ACCT 260 Governmental and Non-Profit Accounting book Reck, Jacqueline. McGraw-Hill Higher Education. Kindle Edition CPA Questions:

A government contributes $20,000 to its pension plan for year 1. The actuarially-determined annual required contribution for year 1 was $27,000. The pension plan paid benefits of $16,400 and refunded employee contributions of $1,600 for year 1. What is the pension expenditure for the general fund for year 1?

Multiple Choice

• $16,400
• $27,000
• $20,000
• $18,000

A primary government would report each of the following categories in its government-wide statement of net position except

Multiple Choice

• Component units
• Business-type activities
• Governmental activities
• Agency activities