1) The city of cool reports a public transportation enterprise fund. in its statement of net position as of December 31, 2018, the fund reported, among other things, cash, and investments, depreciable capital assets and non-depreciable capital assets. Based on the info provided, which components of net position should the Enterprise Fund report?

A) Net Investment in capital assets and unrestricted

B) Restricted, unrestricted, and net investment in capital assets

C) Nonspendable and committed

D) Net investment in capital assets and assigned

 

2) The city of Spainville owns a golf course. Fees are charged to play on the course, but they only cover about half of the costs of operations. This activity should be reported in:

A) The General Fund
B) An Internal Service Fund
C) An Enterprise Fund
D) Either a or C
E) Either B or C