1. Which of the following activities would most likely be accounted for by a Government...
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Accounting
1.
Which of the following activities would most likely be accounted for by a Government Fund?
| a. | Payment of general government long-term debt priniciple and interest. | |
| b. | Remittance to an insurance company of employee insurance premiums previously withheld from employee payroll checks. | |
| c. | Sale of water and sewer services to city residents. | |
| d. | The operations of a parking garage owned by the city.
|
2. Governmental funds are also known as_________?
3. The book value (original capitizable cost and accumulated depreciation) would be reported on the balance sheet of a city's General Fund.
True
False
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