PLEASE ANSWER BOTH PARTS FOR UPVOTE

Question 2

GASB requires SLGs to use

	a.	An Internal Service Fund for an activity that is financed with debt that is secured solely by a pledge of the net revenues of the activity
	b.	An Agency Fund for an activity that is financed with debt that is secured solely by a pledge of the net revenues of the activity
	c.	An Enterprise Fund for an activity that is financed with debt that is secured solely by a pledge of the net revenues of the activity
	d.	A Special Assessment Debt Service Fund for an activity that is financed with debt that is secured solely by a pledge of the net revenues of the activity

QUESTION 3

1. Which of the following best describes the accounting equation for Proprietary Funds?

   	a.	CA - CL = FB
   	b.	(CA + CL) - (NCA + NCL) = NP
   	c.	A = L + NP
   	d.	FA - RL = FB