Which of these is normally reported as an operating

TRUE/FALSE QUESTIONS 2. 7. TF T F The annual financial report of a government unit is 8. Go vernment-wide financial statements include a statement of net assets and activities. 9. T F Fund financial statements for fiduciary funds of d Einancial statements for Siduciary funds generally include a statement fiduciary assets fiduciary net assets. 10. T F In fund financial statements, governmeaal basis of accounting funds should be presented e economic resources and modified accrual basis of In fund financial statements, the General Fund should always be reported as a major fund. 12. TF In fund financial statements, Enterprise Funds are reported using the economic resources measurement focus and the modified accrual basis of s. TF When an auditor states that an entity's financial statements present fairly s financial position and results of operations, it is reasonable to assume that the entity's financial condition is healthy. Notes to the financial statements are a form of required supplementary information. 14 F Non-major funds may be combined and presented in a single column in the fund financial statements. 15 F MULTIPLE CHOICE QUESTIONS 16. In fund financial statements, for which of the following funds are financial statements prepared using the current financial resources measurement focus and modified accrual basis of accounting? a. Both Enterprise Funds and Special Revenue Funds b. Both the General Fund and Debt Service Funds. c. Both Capital Projects Funds and Pension Trust Funds d. Both Permanent Funds and Pension Funds. In fund financial statements, for which of the following are you most likely to see the category Long-term bonds payable? a. General Fund b. Capital Projects Fund c. Enterprise Fund d. Debt Service Fund Which basis of accounting is used to prepare the budgetary comparison 17. 8. statement? a. The budgetary basis b. The accrual basis c. The modified accrual basis d. The cash receipts and disbursements basis