Where in the CAFR would one find the long-term liability for revenue bonds (paid from the revenues of an enterprise fund)? A. The proprietary funds Statement of Net Position only B. The government-wide Statement of Net Position only C. The government-wide Statement of Net Position and the proprietary funds Statement of Net Position D. The government-wide Statement of Net Position and the RSI Schedule of Bonds Payable

Proprietary FUND level financial statements include which of the following? A. Statement of net Position B. Statement of revenues, expenses and changes in fund net position C. Statement of cash flows D. All of the above

What would be the effect on the Unreserved Fund Balance at the end of the current fiscal year of recording a $15,000 expenditure for a new computer, assuming a $14,600 encumbrance had been recorded in a General Fund department in the previous fiscal year?

A. Reduce the General Fund's Unreserved Fund Balance $400 B. Reduce the General Fund's Unreserved Fund Balance $14,600 C. Reduce the General Fund's Unreserved Fund Balance $15,000 D. Have no effect on the General Fund's Unreserved Fund Balance

A government signed a five-year capital lease on January 1, 2009 to obtain some equipment. The lease provided that the government would make a down payment of $10,000 and four $10,000 payments each year after that, beginning January 1, 2009. The government has a fiscal year ending December 31. Upon inception of the lease, the government, in its governmental fund accounting records would: A. Debit expenditures for $10,000 and credit cash for $10,000 B. Debit expenditures for $50,000, credit cash for $10,000 and credit accounts payable for $40,000 C. Debit expenditures for the present value of the payments (including the $10,000), credit cash for $10,000 and credit accounts payable for the difference between the $10,000 and the present value of the future payments D. Debit expenditures for the present value of the payments (including the $10,000), credit cash for $10,000 and credit other financing sources for the difference between the $10,000 and the present value of the future payments

The General Fund of the City of Parkersburg made a permanent contribution of $100,000 to an internal service fund in 2009. Also, during the year, the internal service fund had revenues of $500,000, expenses of $450,000 and a transfer out of $30,000. Assuming this was the first year of operations for the internal service fund, the ending net position balance, after closing entries, would be:

A. $120,000 B. $100,000 C. $ 20,000 D. $ 80,000

Revenue bonds A. Carry less risk than general obligation bonds B. Are no longer in existence C. Are payable solely from the revenues of an enterprise D. Are backed by the full faith and credit of the government in addition to enterprise revenues