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5.0
NFP HW MC Exam 1 Questions with Detailed Verified
Answers (100% Correct Answers) /Already Graded
A+
Oak Township issued the following bonds during the year:
- Bonds to acquire equipment for a vehicle repair service that is
accounted for in an internal service fund $3,000,000
-Bonds to construct a new city hall $8,000,000
-Bond to improve its water utility, which is accounted for in an
enterprise fond $9,000,000
The amount of debt to be reported in the general fund is
a. $0
b. $3,000,000
c. $8,000,000
d. $20,000,000
Ans: A
Oak Township should report depreciation in which of the following
funds:
a. General fund
b. Special revenue fund
c. Internal service fund
Sunday, 02 March 2025
, d. Capital projects fund
Ans: C
The city of Alpine incurred the following costs during the year in its
property tax collection department:
Purchase of computer equipment $ 10,000
Salaries and wages $400,000
Purchase of electricity from the city-owned electricity utility $ 40,000
Purchase of supplies, all of which were used during the year $ 10,000
As a consequence of these transactions, the amount the Alpine should
report as expenditures in its general fund is
a. $400,000
b. $410,000
c. $450,000
d. $460,000
Ans: D
Grove City received the following resources during the year:
Property taxes $50,000,000
federal grant to acquire police cars $ 400,000
Hotel taxes, which must be used to promote tourism $3,000,000
Examstudy - Stuvia US
In today's fast-paced educational landscape, students need reliable resources to excel in their studies.
5.0
NFP HW MC Exam 1 Questions with Detailed Verified
Answers (100% Correct Answers) /Already Graded
A+
Oak Township issued the following bonds during the year:
- Bonds to acquire equipment for a vehicle repair service that is
accounted for in an internal service fund $3,000,000
-Bonds to construct a new city hall $8,000,000
-Bond to improve its water utility, which is accounted for in an
enterprise fond $9,000,000
The amount of debt to be reported in the general fund is
a. $0
b. $3,000,000
c. $8,000,000
d. $20,000,000
Ans: A
Oak Township should report depreciation in which of the following
funds:
a. General fund
b. Special revenue fund
c. Internal service fund
Sunday, 02 March 2025
, d. Capital projects fund
Ans: C
The city of Alpine incurred the following costs during the year in its
property tax collection department:
Purchase of computer equipment $ 10,000
Salaries and wages $400,000
Purchase of electricity from the city-owned electricity utility $ 40,000
Purchase of supplies, all of which were used during the year $ 10,000
As a consequence of these transactions, the amount the Alpine should
report as expenditures in its general fund is
a. $400,000
b. $410,000
c. $450,000
d. $460,000
Ans: D
Grove City received the following resources during the year:
Property taxes $50,000,000
federal grant to acquire police cars $ 400,000
Hotel taxes, which must be used to promote tourism $3,000,000
Examstudy - Stuvia US
