Accounting

The appropriate measurement focus for the business-type activities of the

-Economic resources

Which of the following is not a proprietary fund?

- City Hall Capital Project Fund.

The appropriate basis of accounting for the proprietary funds of a governmental entity is

-Full accrual.

Which of the following is a valid reason for governmental entities to engage in business-type activities?

-The entity can provide the services more cheaply or efficiently than can a private firm

Which of the following is a valid argument for separate accounting principles for proprietary activities?

-The measurement focus on all economic resources is more consistent with the FASB's objectives that financial reporting should provide information to determine whether current-year revenues were sufficient to pay for current-year services.

Which of the following is a key reason for using business-type accounting to account for proprietary fund activities?

-The measurement focus on all economic resources is more consistent with the FASB's objectives that financial reporting should provide information to determine whether current-year revenues were sufficient to pay for current-year services

Which of the following is NOT a budget typically prepared for an activity accounted for in a proprietary fund?

-Appropriation budget

The appropriate entry in the general fund to account for this transfer would be a credit to cash for $500,000 and a debit for $500,000 to

- Nonreciprocal Transfer Out.

The appropriate entry in the internal service fund is a debit to cash for $500,000 and a credit for $500,000 to  

- Nonreciprocal Transfer In.

Cougar City issued $2 million in general obligation bonds to acquire a fleet of vehicles for the Central Motor Pool Internal Service Fund. At the date of issue, the appropriate entry in the Internal Service Fund is a $ 2 million debit to cash and a $2 million credit to

-Bonds Payable

Cash flows from Investing Activities include which of the following as cash in flows -Interest and dividends received

Cash flows from Capital and Related Financing Activities include which of the following as cash outflows

-Purchases of capital assets