Question 1 0.5 pts

The resources used to finance CPF may come from which of the following sources?

Private donations

General Obligation Debt

All of the responses provided are correct

Intergovernmental revneues

Flag this Question Question 2 0.5 pts

What is done with resources that remain in a CPF after the project is completed?

Disbursed according to the directives of the resourcer provider

Always transferred to the General Fund

Always returned to the provider(s) of the resources

Always transferred to a Debt Service Fund

Flag this Question Question 3 0.5 pts

The principal amount of bonds issued to finance the cost of a new city hall would be recorded as a liability in which of the following funds?

General Fund

None of the responses are correct

Special Revenue Fund

Debt Service Fund

Capital Projects Fund

Flag this Question Question 4 0.5 pts

Why is encumbrance accounting usually used in CPF?

the budget must be recorded in these funds

It helps the government control the expenditures

the modified accrual basis of accounting is used.

Long-term debt is not recorded in these funds.

Flag this Question Question 5 0.5 pts

The issuance of bonds to provide resources to construct a new courthouse should be recorded in a CPF by crediting which of the following accounts?

Fund Balance

Other financing source-long-term debt issued

REVENUES-bonds

Bonds Payable