Please answer all four parts, I WILL UPVOTE

1. General government financial resources that are designated by an SLG to be used to pay for the acquisition of a major general government capital asset would most likely be accounted for by the SLG in

	a.	A Special Revenue Fund
	b.	A Permanent Fund
	c.	A Capital Projects Fund
	d.	The GCA

2.

Expendable funds recognize

	a.	Depreciation expense when depreciating fund fixed assets
	b.	Federal income tax expense when accruing related current year federal income tax liabilities
	c.	Capital Outlay expenses when selling general government capital assets
	d.	Debt Service expenditures when paying off general government long-term debt principal and interest

3.

Which of the following would not be reported on a Government Fund Operating Statement?

	a.	Other Financing Sources
	b.	Expenses
	c.	Revenues
	d.	Expenditures

4.

Under the modified accrual basis of accounting, only those revenues that are susceptible to accrual are recognized. Revenues are considered to be susceptible to accrual for current year revenue recognition purposes

	a.	If the government establishes its legal claim to the revenues within at least 2 months of receiving any related financial resources
	b.	If they will be collected during the current year or no more than 60 days (two months) after year-end
	c.	If they will be collected during the current year or no more than 30 days (one month) after year-end
	d.	If the revenues are required to be used to pay future year liabilities