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In fund financial statements, where are the revenues and expenditures (expenses) of government-type and proprietary-type funds reported? a. On different financial statements b. On the same financial statements c. Not on any financial statements d. On the same financial statements where fiduciary funds are reported. Fund financial statements have columns for which of the following? a. Major funds only b. All funds c. Each major fund plus a column for non-major funds combined d. Only the combined total of all funds. Which of the following best expresses the accounting equation for Agency Funds? a. Assets = Liabilities b. Assets = Liabilities + Net Assets c. Assets - Liabilities = Net Assets d. Assets = Net Assets Which of the following is part of the minimum requirements established by GASB for general- purpose external financial reports? a. An Introductory Section b. Management's Discussions and Analysis c. A Statistical Section d. A schedule of cash receipts and disbursements for all funds. The process of blending is accomplished by reporting a component unit's funds in which manner? a. In notes to the primary government's financial statements b. In a separate column to the left of the primary government's funds c. As if they were always fiduciary funds of the primary government d. As if they were the funds of the primary government When preparing a fund statement of revenues, expenditures, and changes in fund balances for the Capital Projects Fund, how should proceeds of bonds debt be reported? a. As a revenue b. As a transfer c. As an Other financing source d. As bonds Payable In fund financial statements, where are the categories Capital assets, less accumulated depreciation, and Long-term bonds payable likely to appear? a. The General Fund, but not on Enterprise Fund b. An Enterprise Fund, but not on Capital Project Fund c. Both on Enterprise Fund and on a Capital Project Fund d. An Enterprise Fund and a Capital Projects Fund or a Debt Service Fund

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