Question
Which of the following is NOT one of the categories of cash flows required to be reported on an Internal Service Fund's Statement of Cash
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Which of the following is NOT one of the categories of cash flows required to be reported on an Internal Service Fund's Statement of Cash Flows?
a. Internal Serrvice Funds do not prepare Statements of Cash Flows
b. Cash flows from noncapital financing activities
c. Cash flows from operating activities
d. Cash flows from capital and related investing activities
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In the unusual case where an SLG is not liable in any manner for special assessment debt whose proceeds are used to pay for a special assessment capital project, the special assessment debt should be serviced from which of the following?
a. A Capital Projects Fund
b. An Agency Fund
c. The GLTL
d. A Special Assessment Debt Service Fund
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GASB allows SLGs to provide for the removal of existing general government long-term debt principal from the GLTL and year-end Government-wide financial statements when replacement long-term debt is issued by an SLG. What are the names of the two different situations in which GASB allows for this?
a. Modified Method and Substantive Method
b. Eminent Domain and Escheat
c. Advance Refundings and Current Refundings
d. Legal Defeasance and In-subtance Defeasance
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Accounting For Governmental And Nonprofit Entities
Authors: Jacqueline Reck, Suzanne Lowensohn, Daniel Neely
19th Edition
1260118851, 9781260118858
