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NFP - Test 2 - Ch 9 Exam Questions And
Answers |Latest 2025 | Guaranteed Pass.
What basis of accounting do Enterprise and Internal Service funds use? - Answer✔Full Accrual
(both)
Which of the following is not a GASB required statement for proprietary funds? -
Answer✔Statement of changes in fund net assets
A government need not necessarily account for an activity in an enterprise fund even though it
- Answer✔Charges fees for the activity and those fees are material in amount
Except for FASB pronouncements that have been over ridden by specific GASB
pronouncements, in their enterprise funds governments must - Answer✔Apply all FASB
pronouncements issued prior to Nov 30, 1989 and apply either all or none of the
pronouncements issued after that date.
Tap fees, a portion of which, exceed the cost of hooking customers into the utility should be
accounted for as - Answer✔A combination of capital contributions and ordinary revenues.
Landfill closure and post-closure costs should be recognized as expenses - Answer✔In the
periods that the landfill is in operation
Which of the following would not be included in the computation of the amount to be
recognized as a landfill closure ex[ense? - Answer✔An appropriate discount rate
1|P a g e
NFP - Test 2 - Ch 9 Exam Questions And
Answers |Latest 2025 | Guaranteed Pass.
What basis of accounting do Enterprise and Internal Service funds use? - Answer✔Full Accrual
(both)
Which of the following is not a GASB required statement for proprietary funds? -
Answer✔Statement of changes in fund net assets
A government need not necessarily account for an activity in an enterprise fund even though it
- Answer✔Charges fees for the activity and those fees are material in amount
Except for FASB pronouncements that have been over ridden by specific GASB
pronouncements, in their enterprise funds governments must - Answer✔Apply all FASB
pronouncements issued prior to Nov 30, 1989 and apply either all or none of the
pronouncements issued after that date.
Tap fees, a portion of which, exceed the cost of hooking customers into the utility should be
accounted for as - Answer✔A combination of capital contributions and ordinary revenues.
Landfill closure and post-closure costs should be recognized as expenses - Answer✔In the
periods that the landfill is in operation
Which of the following would not be included in the computation of the amount to be
recognized as a landfill closure ex[ense? - Answer✔An appropriate discount rate
1|P a g e
