The Purchases Method of accounting for inventory in Government Funds

	a.	Requires a debit to a current asset account for the cost of inventory purchased
	b.	Requires a debit to expenditures for the cost of inventory when purchased
	c.	Requires a credit to a current asset account when inventory from a stock of supplies is issued to a user department
	d.	Can be used with either a Perpetual or Periodic inventory tracking system

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Which of the following would be included in the amount of property tax revenues recognized and reported for the current year by a Government Fund?

	a.	Property taxes collected during the 2nd month of the current year that were levied during the 1stmonth of the current year to pay for future year expenditures
	b.	Property Tax discounts granted to property owners that paid property taxes before the due date on a property tax levied this year to be used to pay for current year expenditures
	c.	Property taxes collected on behalf of another government entity

D.Delinquent property taxes collected during the 3rd month of the current year that were levied during the previous year to pay for previous year expenditures

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Which of the following year-end financial statements must be prepared by State and Local Government (SLG) Government Funds?

	a.	Statement of Revenues, Expenditures, and Changes in Fund Balance
	b.	Statement of General Government Capital Assets and Long-term Liabilities
	c.	Statement of Cash Flows
	d.	Comprehensive Annual Financial Report

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A citys General Fund records expenditures for uncollectable general government property tax revenues

	a.	When current property tax receivables are reclassified as delinquent
	b.	When the property taxes are levied
	c.	Never; no expenditures would be recorded
	d.	When the property taxes are written off as uncollectable