In fund financial statements, where are the revenues and expenditures (expenses) of governmental, proprietary, and fiduciary funds reported?

Select one:

a. Governmental, proprietary, and fiduciary funds should be reported in separate sets of financial statements.

b. Governmental funds should be reported in one set of statements, and proprietary and fiduciary funds should be reported together in another set of statements.

c. All major funds should be reported together in one set of statements, regardless of category, and all nonmajor funds should be reported in another set of statements.

d. Governmental and proprietary funds should be reported in separate sets of financial statements, and fiduciary funds should be reported only in the government-wide statements.

Which of these items should be reported as a nonoperating expense in a proprietary fund statement of revenues, expenses, and changes in net position?

Select one:

a. Depreciation expense

b. Transfers out

c. Repayment of long-term debt principal

d. Interest expense

Which items are compared in a budgetary comparison schedule for the General Fund?

Select one:

a. Last years final budget; current years original budget; current years final budget

b. Last years final budget; current years final budget; current years actual inflows and outflows on the budgetary basis of accounting

c. Current years original budget; current years final budget; current years actual inflows and outflows on the modified accrual basis of accounting

d. Current years original budget; current years final budget; current years actual inflows and outflows on the budgetary basis of accounting