Which of the following funds are classified as fiduciary funds? Group of answer choices a.) Internal service and enterprise funds. b.) Trust and agency funds. c.) Capital projects and debt service funds.
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Which of the following funds are classified as fiduciary funds?
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- Which of the following funds are classified as proprietary funds? Group of answer choices a.) Agency and special revenue funds. b.) Agency and pension trust funds. c.) Enterprise and internal service funds.Fiduciary Funds includes: a. Agency Fund b. Special Revenue Fund c. Debt Service Fund d. Internal Service FundExplain the distinction/s between custodial funds and trust funds. What financial statements prepared for each?
- Which of the following is an example of an interactivity transaction?a. Money is transferred from the general fund to the debt service fund.b. Money is transferred from the capital projects fund to the general fund.c. Money is transferred from the special revenue fund to the debt service fund.d. Money is transferred from the general fund to the enterprise fund.Accounting for permanent funds closely resembles the accounting for a. internal service funds. b. general funds. c. enterprise funds. d. agency funds.Identify the letter that best describes the accounting and reporting by the following funds and account groups:1. Enterprise fund fixed assets.2. Capital projects fund.3. General fixed assets.4. Infrastructure fixed assets.5. Enterprise fund cash.6. General fund.7. Agency fund cash.8. General long-term debt.9. Special revenue fund.10. Debt service fund.a. Accounted for in a fiduciary fund.b. Accounted for in a proprietary fund.c. Accounted for in a quasi-endowment fund.d. Accounted for in a self-balancing account group and included in financial statements.e. Accounted for in a special assessment fund.f. Accounts for major construction activities.g. Accounts for property tax revenues.h. Accounts for payment of interest and principal on tax-supported debt.i. Accounts for revenues from earmarked sources to finance designated activities.j. Reporting is optional.
- Options are Agency Fund Capital Projects Fund Capital Projects Fund and Debt Service Fund Debt Service Fund Enterprise Fund Enterprise FUnd and the General Fund The General Fund The General Fund and the Internal Service Fund Internal Service Fund and the General Fund Internal Service Fund Trust Fund (Propietary)180. Which of the following is a required financial statement for an investment trust fund? a. Statement of revenues, expenditures, and changes in fiduciary net assets. b. Statement of activities. c. Statement of revenues, expenses, and changes in fiduciary net assets. d. Statement of changes in fiduciary net assets.Which of the following is an example of an interactivity transaction? Money is transferred from the general fund to the debt service fund. Money is transferred from the capital projects fund to the general fund. Money is transferred from the special revenue fund to the debt service fund. Money is transferred from the general fund to the enterprise fund.
- The modified accrual method of accounting is applied to which of the following funds or asset groups? a. Proprietary funds b. Governmental funds c. Fiduciary funds d. Government trust funds1. Expenditures are used for which type of fund? A. Fiduciary B. Governmental C. Proprietary D. All of the aboveWhich trust fund has assets always equal to liabilities with never a fund balance. O a. Pension trust funds O b. debt service trust funds Oc. Investment trust funds O d. special revenue trust funds Oe. Private purpose trust funds Of. Agency trust funds O g. capital projects trust funds Oh. Internal service trust funds