Question : 81.Funds other than the General Fund must be considered a : 1255394

81.Funds other than the General Fund must be considered a major fund when

A)total assets, liabilities, revenues, or expenditures/expenses of that fund constitute 10 percent of either the governmental or enterprise category.

B)total assets, liabilities, revenues, or expenditures/expenses of that fund are 5 percent of the total of the governmental and enterprise category.

C) conditions of either A or B exist.

D) conditions of both A and B exist.

82.Which of the following is true regarding the governmental fund statements?

A)The governmental fund statements include a Statement of Cash Flows prepared on the direct method.

B)The governmental fund statements are prepared using the current financial resources measurement focus and modified accrual accounting.

C)Both of the above.

D)Neither of the above.

83.Which of the following is true regarding the proprietary fund financial statements?

A)The proprietary fund financial statements include the Statement of Net Assets, the Statement of Revenues, Expenses, and Changes in Fund Net Assets, and the Statement of Cash Flows.

B)The proprietary funds include enterprise, internal service, and permanent funds.

C)Both of the above.

D)Neither of the above.

84.Which of the following is true regarding fiduciary fund financial statements?

A)Fiduciary fund financial statements include the Statement of Fiduciary Net Assets, the Statement of Changes in Fiduciary Net Assets, and the Statement of Cash Flows prepared on the direct method.

B)Fiduciary fund financial statements are prepared on the current financial resources measurement focus and modified accrual accounting.

C)Both of the above.

D)Neither of the above.

85.Which of the following is true regarding the reporting of Budget-Actual Comparisons?

A)A Budget-Actual Comparison Schedule is required for the General Fund and all major special revenue funds that have a legally adopted annual budget.

B)A Budget-Actual Comparison Statement may be prepared in lieu of the Schedule.

C)Both of the above.

D)Neither of the above.

86.An example of an expenditure classification by function would be:

A)Current.

B)Public safety.

C)Police Department.

D)Salaries.

87.Which of the following is true regarding the reporting of major funds in the governmental funds financial statements?

A)The General Fund is always considered a major fund.

B)A fund is considered major if its revenues, expenditures, assets, or liabilities exceed 10% of the total governmental fund categories and if the same element (revenues, expenditures, assets, or liabilities) exceeds 5% of the governmental and enterprise funds combined.

C)Both of the above.

D)Neither of the above.

88.Which of the following is true regarding financial reporting of governmental funds?

A)Governmental funds include the General Fund, special revenue funds, capital projects funds, debt service funds, and permanent funds.

B)The Fund Balance of governmental funds reports fund balance as reserved and unreserved.

C)Both of the above.

D)Neither of the above.

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

A)General revenues include items such as charges for services and program fees.

B)Fiduciary activities are included.

C)Both of the above.

D)Neither of the above.

90.Which of the following is true regarding the governmental fund statements?

A)The Governmental Funds Balance Sheet does not reflect capital assets or long-term debt.

B)The Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances reports columns for major funds, non-major funds (in total), and total.

C)Both of the above.

D)Neither of the above.