1. What basis of accounting is used by Proprietary Funds?

   	a.	Cash basis
   	b.	Agency basis
   	c.	Modified accrual basis
   	d.	Accrual basis

QUESTION 5

1. Successful attainment by an SLG of in-substance defeasance of long-term general government debt in an advance refunding transaction

   	a.	Means that the SLG was unable to meet the bond covenent's legal defeasance provisions
   	b.	Results in the principal of the new debt being recorded as a long-term liability in a Debt Service Fund
   	c.	Results in the principal of the old debt being removed from the GLTL
   	d.	Results in the principle of both old debt and the new debt being recorded in the GLTL