1. True/False Proprietary, Governmental and Fiduciary funds all use full accrual, and do not need any conversion in government-wide statement statements
2. True/False, in a Governmental Fund, a state entity would debit vehicles (long-term asset account) if the entity buys a vehicle for $50,000.
3. True/False Net Position is the Net Difference between assets and liabilities for state and local governments (governmental funds)
4. True/False (T/F) - Internal Service funds would get most revenue from charging external customers (outside of the state/local government). An example would be a parking lot.
5. T/F Encumbrances will be credited when receiving the good or at the end of the fiscal year
6. T/F State and Local entities follow rules from FASB.
7. True/False fiduciary funds are included in government wide statements.
8. A state government has a fund that tracks the amounts for a pension for state teachers. For this fund, which is the name of the category tracking the difference between assets and liabilities? (Need this to be Answer please)
9. What are the first two parts of the CAFR?

Introductory and Financial

10. What are the two methods of accounting for supplies?

cash accounting and accrual accounting ( not sure if it is correct)