Which of the following is not a fiduciary fund?

Multiple Choice

• Custodial

• Private-purpose trust

• Pension trust

• Permanent

Which of the following use the current financial resources measurement focus?

Multiple Choice

• Fiduciary fund statements

• Internal Service fund statements

• Governmental fund statements

• Proprietary fund statements

Under the modified accrual basis of accounting, expenditures should be recognized when:

Multiple Choice

• they are authorized by the budget ordinance.

• they are paid.

• they are measurable and can be financed by the revenues of the current period.

• the fund liability is incurred.

Fiduciary funds use the:

Multiple Choice

• economic resources measurement focus and modified accrual basis of accounting.

• current financial resources measurement focus and accrual basis of accounting.

• economic resources measurement focus and accrual basis of accounting.

• none of the choices, the fiduciary funds have no revenues.

Proprietary funds use the:

Multiple Choice

• economic resources measurement focus and modified accrual basis of accounting.

• economic resources measurement focus and accrual basis of accounting.

• current financial resources measurement focus and accrual basis of accounting.

• current financial resources measurement focus and modified accrual basis of accounting.