Question
Which of the following would result in an increase in the fund balance of a Government Fund? a. Purchase of a general government capital asset
Which of the following would result in an increase in the fund balance of a Government Fund?
a. | Purchase of a general government capital asset
| |
b. | Transfer of money out of the fund to another fund of the same government | |
c. | Transfer of money into the fund from another fund of the same government
| |
d. | Payment of general government long-term debt principle and related interest |
2.
General government financial resources that are designated by an SLG to be used to pay for the acquisition of a major general government capital asset would most likely be accounted for by the SLG in
a. | A Special Revenue Fund | |
b. | A Permanent Fund
| |
c. | The GCA
| |
d. | A Capital Projects Fund |
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