AGNP Final Exam Questions and answers
2025
Types .of .Governmental .Funds .(Modified .Accrual) .- .ANS✓✓-- .General .Fund
- .Special .Revenue .Fund
- .Debt .Service .Fund
- .Capital .Projects .Fund
- .Permanent .Fund
Types .of .Proprietary .Funds .(Accrual) .- .ANS✓✓-- .Internal .Service .Funds
- .Enterprise .Funds
Types .of .Fiduciary .Funds .(Accrual) .- .ANS✓✓-- .Agency .Funds
- .Pension .Trust .Funds
- .Investment .Trust .Funds
- .Private-Purpose .Trust .Funds
Agency .funds .Recorded? .- .ANS✓✓-Recorded .on .the .Fiduciary .fund .in .a
.separate .column.
Billing .and .collection .of .special .assessments .and .payment .of .debt .principal
.and .interest .on .special .assessment .debt .for .which .the .city .is .not .obligated .in
.any .manner .should .be .recorded .in .a(an): .- .ANS✓✓-Agency .fund.
The .cash .and .investment .pool .of .Lake .City .allocates .dividends, .interest, .and
.capital .gains .and .losses .on .a .periodic .basis. .When .the .cash .and .investment
.pool .accrues .interest .earned .on .investments .in .debt .securities, .pending
.allocation .to .participating .funds, .it .would .credit .which .of .the .following
.accounts? .- .ANS✓✓-Undistributed .Earnings .on .Pooled .Investments.
Which .of .these .fiduciary .fund .types .always .has .zero .net .position? .- .ANS✓✓-
Agency .funds.
Which .of .the .statements .concerning .agency .funds .is .true? .- .ANS✓✓-Agency
.funds .are .reported .only .on .the .statement .of .fiduciary .net .position.
Other .postemployment .benefits .may .include: .- .ANS✓✓--Health .care.
-Life .insurance.
-Long-term .care.
, Which .of .the .following .activities .would .most .appropriately .be .recorded .by .an
.agency .fund? .- .ANS✓✓-Taxes .collected .by .a .county .government .on .behalf .of
.cities .within .the .county.
Which .of .the .following .accounts .is .least .likely .to .be .used .by .a .tax .agency
.fund? .- .ANS✓✓-Revenues.
At .the .government-wide .level, .where .are .fiduciary .funds .reported? .- .ANS✓✓-
Fiduciary .funds .are .not .reported .at .the .government-wide .level.
An .investment .trust .fund .is .used .to .report .the .net .position .available .to .the: .-
.ANS✓✓-External .participants .only.
A .local .civic .group .gave .the .county .government .$25,000 .cash .to .be .used .to
.pay .the .utility .bills .of .persons .with .income .below .the .poverty .level. .The .city
.should .account .for .the .$25,000 .contribution .in: .- .ANS✓✓-Private-purpose .trust
.fund.
Which .of .the .following .is .not .a .typical .reason .for .evaluating .a .government's
.financial .condition? .- .ANS✓✓-Determine .whether .residents .will .receive
.dividends.
Which .of .the .following .terms .is .defined .as .determining .whether .current-year
.revenues .are .sufficient .to .pay .for .current-year .services .and .whether .future
.taxpayers .will .be .required .to .assume .the .burdens .of .services .previously
.provided? .- .ANS✓✓-Interperiod .equity.
The .term .that .is .closely .related .to .the .concept .of .liquidity .is .- .ANS✓✓-
Financial .position.
Which .of .the .following .financial .concepts .has .been .defined .by .the .GASB .as
."the .probability .that .a .government .will .meet .both .its .financial .obligations .to
.creditors, .consumers, .employees, .taxpayers, .suppliers, .constituents, .and
.others .as .they .become .due .and .its .service .obligation .to .constituents, .both
.currently .and .in .the .future"? .- .ANS✓✓-Financial .condition.
Which .of .the .following .is .a .measure .of .the .extent .to .which .the .government's
.business-type .activities .are .self-supporting? .- .ANS✓✓-Business-type .activities
.revenues/business-type .activities .expenses.
A .measure .of .whether .the .government .lived .within .its .means .in .the
.measurement .year, .was .required .to .use .prior .year .resources .to .fund .a .portion
.of .current .year .costs, .or .shifted .the .funding .of .some .current .year .costs .to
.future .periods, .is: .- .ANS✓✓-Total .revenues/total .expenditures.
Which .of .the .following .terms .best .describes .a .government's .ongoing .ability
.and .willingness .to .meet .its .financial .obligations .and .service .commitments .as
.they .become .due? .- .ANS✓✓-Economic .condition.
2025
Types .of .Governmental .Funds .(Modified .Accrual) .- .ANS✓✓-- .General .Fund
- .Special .Revenue .Fund
- .Debt .Service .Fund
- .Capital .Projects .Fund
- .Permanent .Fund
Types .of .Proprietary .Funds .(Accrual) .- .ANS✓✓-- .Internal .Service .Funds
- .Enterprise .Funds
Types .of .Fiduciary .Funds .(Accrual) .- .ANS✓✓-- .Agency .Funds
- .Pension .Trust .Funds
- .Investment .Trust .Funds
- .Private-Purpose .Trust .Funds
Agency .funds .Recorded? .- .ANS✓✓-Recorded .on .the .Fiduciary .fund .in .a
.separate .column.
Billing .and .collection .of .special .assessments .and .payment .of .debt .principal
.and .interest .on .special .assessment .debt .for .which .the .city .is .not .obligated .in
.any .manner .should .be .recorded .in .a(an): .- .ANS✓✓-Agency .fund.
The .cash .and .investment .pool .of .Lake .City .allocates .dividends, .interest, .and
.capital .gains .and .losses .on .a .periodic .basis. .When .the .cash .and .investment
.pool .accrues .interest .earned .on .investments .in .debt .securities, .pending
.allocation .to .participating .funds, .it .would .credit .which .of .the .following
.accounts? .- .ANS✓✓-Undistributed .Earnings .on .Pooled .Investments.
Which .of .these .fiduciary .fund .types .always .has .zero .net .position? .- .ANS✓✓-
Agency .funds.
Which .of .the .statements .concerning .agency .funds .is .true? .- .ANS✓✓-Agency
.funds .are .reported .only .on .the .statement .of .fiduciary .net .position.
Other .postemployment .benefits .may .include: .- .ANS✓✓--Health .care.
-Life .insurance.
-Long-term .care.
, Which .of .the .following .activities .would .most .appropriately .be .recorded .by .an
.agency .fund? .- .ANS✓✓-Taxes .collected .by .a .county .government .on .behalf .of
.cities .within .the .county.
Which .of .the .following .accounts .is .least .likely .to .be .used .by .a .tax .agency
.fund? .- .ANS✓✓-Revenues.
At .the .government-wide .level, .where .are .fiduciary .funds .reported? .- .ANS✓✓-
Fiduciary .funds .are .not .reported .at .the .government-wide .level.
An .investment .trust .fund .is .used .to .report .the .net .position .available .to .the: .-
.ANS✓✓-External .participants .only.
A .local .civic .group .gave .the .county .government .$25,000 .cash .to .be .used .to
.pay .the .utility .bills .of .persons .with .income .below .the .poverty .level. .The .city
.should .account .for .the .$25,000 .contribution .in: .- .ANS✓✓-Private-purpose .trust
.fund.
Which .of .the .following .is .not .a .typical .reason .for .evaluating .a .government's
.financial .condition? .- .ANS✓✓-Determine .whether .residents .will .receive
.dividends.
Which .of .the .following .terms .is .defined .as .determining .whether .current-year
.revenues .are .sufficient .to .pay .for .current-year .services .and .whether .future
.taxpayers .will .be .required .to .assume .the .burdens .of .services .previously
.provided? .- .ANS✓✓-Interperiod .equity.
The .term .that .is .closely .related .to .the .concept .of .liquidity .is .- .ANS✓✓-
Financial .position.
Which .of .the .following .financial .concepts .has .been .defined .by .the .GASB .as
."the .probability .that .a .government .will .meet .both .its .financial .obligations .to
.creditors, .consumers, .employees, .taxpayers, .suppliers, .constituents, .and
.others .as .they .become .due .and .its .service .obligation .to .constituents, .both
.currently .and .in .the .future"? .- .ANS✓✓-Financial .condition.
Which .of .the .following .is .a .measure .of .the .extent .to .which .the .government's
.business-type .activities .are .self-supporting? .- .ANS✓✓-Business-type .activities
.revenues/business-type .activities .expenses.
A .measure .of .whether .the .government .lived .within .its .means .in .the
.measurement .year, .was .required .to .use .prior .year .resources .to .fund .a .portion
.of .current .year .costs, .or .shifted .the .funding .of .some .current .year .costs .to
.future .periods, .is: .- .ANS✓✓-Total .revenues/total .expenditures.
Which .of .the .following .terms .best .describes .a .government's .ongoing .ability
.and .willingness .to .meet .its .financial .obligations .and .service .commitments .as
.they .become .due? .- .ANS✓✓-Economic .condition.
