To what type of account are benefits paid to employees recorded in a Pension Trust
Fund usually debited?
a. A deduction account
b. An expenditure account
c. An expense account
d. A net position account
Give this one a try later!
A
5. The net position section of the balance sheet of a proprietary fund can be divided
into three sections, which are __, ___, and ___.
Give this one a try later!
, net capital assets, restricted, unrestricted
In order for a special purpose government to be considered a primary government it
must be fiscally independent. Fiscally independent governments must? (3)
Give this one a try later!
1. determine its budget
2. levy taxes or set rates charged
3. Issue bonds
Name the two ways a component unit may be included in the financial statements and
identify the default method.
Give this one a try later!
1. discrete presentation (default)
2. blending
Name 3 difference between GASB and FASB Statement of Cash Flows
Give this one a try later!
Fund usually debited?
a. A deduction account
b. An expenditure account
c. An expense account
d. A net position account
Give this one a try later!
A
5. The net position section of the balance sheet of a proprietary fund can be divided
into three sections, which are __, ___, and ___.
Give this one a try later!
, net capital assets, restricted, unrestricted
In order for a special purpose government to be considered a primary government it
must be fiscally independent. Fiscally independent governments must? (3)
Give this one a try later!
1. determine its budget
2. levy taxes or set rates charged
3. Issue bonds
Name the two ways a component unit may be included in the financial statements and
identify the default method.
Give this one a try later!
1. discrete presentation (default)
2. blending
Name 3 difference between GASB and FASB Statement of Cash Flows
Give this one a try later!
