QUESTION 31 The financial statements of an Enterprise fund are prepared using the Full Accrual Modified Accrual Economic Resources Current Financial Resources Basis Basis Measurement Focus Measurement Focus No Yes Yes No Yes No No Yes o No Yes No Yes o Yes No Yes No QUESTION 28 A nongovernmental not-for-profit organization borrowed $5,000, which it used to purchase a truck. In which section of the organization's statement of cash flows should the transaction be reported? In cash inflow and cash outflow from investing activities In cash inflow and cash outflow from financing activities. In cash inflow from operating activities and cash outflow from investing activities. In cash inflow from financing activities and cash outflow from investing activities QUESTION 29 Cedar City issues $2,000,000, 6% revenue bonds were issued at par on April 1, to build a new water line for the water enterprise fund. Interest is payable every six months. What amount of interest expense should be reported for the year ended December 31? $90,000 $120,000 so O $60,000 QUESTION 30 A defined benefit plan is one in which the employer promises specified payments to employees on their retirement the specific provisions are defined by the Internal Revenue Code. the specific provisions are defined by the Uniform Code of Retirement Plans. the employee can specify the mix of benefits (e.g., health, pension, insurance) that will be received on retirement