NFP Exam #3 Exam Questions Verified by
Experts
What are the enterprise fund financial statements statement of net position
statement of revenues, expenses, and changes in fund net position
Statement of cash flows
Enterprise funds are included in what column of the government wide financial statemetns
business type
Receipt of interfund loan in supplies fund debit Cash
Credit Interfund loan from water utility fund - current, interfund loan from water utility fund -
noncurrent
Receipt of interfund loan in governmental activities debit Cash
Credit Internal Balances
Acquisition of Assets for Cash Supplies fund debit - All assets acquired
,Credit Cash
Acquisition of Assets for cash in governmental activities fund debit all assets acquired
credit cash
Supplies ordered to ensure inventories met demand are received and invoices are approved for
payment in supplies fund and governmental activities fund debit inventory of supplies
credit vouchers payable
Issues to general fund departments of supplies in supplies fund debit cost of supplies
issued
credit inventory of supplies
debit due from general fund
credit billing to deparments
Collections from the general fund in the supplies fund debit cash
credit due from general fund
, Payroll and fringe benefits paid in cash and distributed to the function expense accounts in
supplies fund debit expenses related to payroll areas
credit cash
payroll and fringe benefits paid in cash and distributed to the function expense accounts in
governmental activities fund debit expenses - general government
credit cash
Town received a cash grant from a state program promoting the use of compact fluorescent light
bulbs in the supplies warehouse Supplies fund debit cash
credit grant revenue
debit warehousing expense
credit cash
Town received a cash grant from a state program promoting the use of compact fluorescent light
bulbs in the supplies warehouse governmental activites debit cash
credit program revenue-general government-operating grants and contributions
Experts
What are the enterprise fund financial statements statement of net position
statement of revenues, expenses, and changes in fund net position
Statement of cash flows
Enterprise funds are included in what column of the government wide financial statemetns
business type
Receipt of interfund loan in supplies fund debit Cash
Credit Interfund loan from water utility fund - current, interfund loan from water utility fund -
noncurrent
Receipt of interfund loan in governmental activities debit Cash
Credit Internal Balances
Acquisition of Assets for Cash Supplies fund debit - All assets acquired
,Credit Cash
Acquisition of Assets for cash in governmental activities fund debit all assets acquired
credit cash
Supplies ordered to ensure inventories met demand are received and invoices are approved for
payment in supplies fund and governmental activities fund debit inventory of supplies
credit vouchers payable
Issues to general fund departments of supplies in supplies fund debit cost of supplies
issued
credit inventory of supplies
debit due from general fund
credit billing to deparments
Collections from the general fund in the supplies fund debit cash
credit due from general fund
, Payroll and fringe benefits paid in cash and distributed to the function expense accounts in
supplies fund debit expenses related to payroll areas
credit cash
payroll and fringe benefits paid in cash and distributed to the function expense accounts in
governmental activities fund debit expenses - general government
credit cash
Town received a cash grant from a state program promoting the use of compact fluorescent light
bulbs in the supplies warehouse Supplies fund debit cash
credit grant revenue
debit warehousing expense
credit cash
Town received a cash grant from a state program promoting the use of compact fluorescent light
bulbs in the supplies warehouse governmental activites debit cash
credit program revenue-general government-operating grants and contributions
