Question : 87.Which of the following would be considered a program revenue : 1255506

87.Which of the following would be considered a program revenue in the Statement of     Activities of a local government?

A)A grant from the state to construct utility plant.

B)A motor fuel tax, restricted for road repairs.

C)Both of the above.

D)Neither of the above.

88.A government reported an Other Financing Source in the amount of $600,000 related to the sale of land in its governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances.  The land had a cost of $150,000.  The adjustment in the reconciliation when moving from the changes in fund balances in the Statement of Revenues, Expenditures, and Changes in Fund Balances to the change in net assets in the Statement of Activities would be:

A)Increase of $150,000.

B)Decrease of $150,000.

C)Increase of $450,000.

D)Decrease of $450,000.

89.A government reported the following transfers in its governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances: (1) a transfer from the General Fund to a special revenue fund in the amount of $400,000; (2) a transfer from the General Fund to an internal service fund in the amount of $300,000; (3) a transfer from the General Fund to a permanent fund in the amount of $200,000. The amount that would be shown as a transfer out in the governmental activities column in the Statement of Activities would be:

A)$0; no transfer would be shown.

B)$   400,000.

C)$   600,000.

D)$1,000,000.

90.A governmental fund’s Statement of Revenues, Expenditures, and Changes in Fund Balances reported expenditures of $40 million, including capital outlay expenditures of $11 million.  Capital assets for that government cost $80 million, including land in the amount of $10 million.  Depreciable assets are amortized over 10 years, on average.  The reconciliation from governmental fund changes in fund balances to governmental activities change in net assets would reflect a(an):

A)$4 million increase.

B)$4 million decrease.

C)$3 million decrease.

D)$11 million decrease.

91.The City of Smithfield levied property taxes in and for 2014 in the amount of $200 million.  It is estimated that 1% will be uncollectible.  During 2014, $180 million was collected, and $12 million was collected during the next 60 days.  Smithfield recognizes the maximum possible property taxes in its governmental funds.  The adjustment, when moving from the governmental funds changes in fund balances to the governmental activities change in net assets would be:

A)$6 million increase.

B)$6 million decrease.

C)$8 million increase.

D)$8 million decrease.

92.Which of the following is true regarding the government-wide Statement of Net Assets?

A)A classified approach is required, reflecting current assets separately from noncurrent assets and current liabilities from noncurrent liabilities.

B)Major funds are reported for governmental and enterprise funds.

C)Both of the above.

D)Neither of the above.

93.A government’s Statement of Revenues, Expenditures, and Changes in Fund Balances reflected expenditures for debt service in the amount of $12,000,000, including $7,000,000 for interest.  It also reflected proceeds of bonds in the amount of $4,000,000.  No interest accruals were involved.  When moving from the changes in fund balances reported for the governmental funds to the change in net assets for governmental activities, the net change would be:

A)$3,000,000 decrease

B)$1,000,000 decrease

C)$3,000,000 increase

D)$1,000,000 increase

94.Which of the following is true regarding the government-wide Statement of Activities?

A)Fiduciary activities are not reported.

B)Discretely presented component units are not reported.

C)Both of the above.

D)Neither of the above.

95.A government reported expenditures for infrastructure as follows: $18 million for improvements and additions; $20 million to extend the life of existing infrastructure; $16 million for general repairs.  The cost of its infrastructure, excluding land, is $750 million, and the infrastructure has an estimated life of 50 years, on average.  Which of the following would be the reported expense (in millions) under each of the following options?

A)Depreciation Approach: $15; Modified Approach: $36

B)Depreciation Approach: $15; Modified Approach: $31

C)Depreciation Approach: $31; Modified Approach: $31

D)Depreciation Approach: $31; Modified Approach: $36

96.Which of the following fund types is not included in the government-wide financial statements?

A)General Fund

B)Pension Trust Fund

C)Enterprise Fund

D) Internal Service Fund