FAR 8 Q 2 B

property taxes, licenses and fines are classified as -----------------------------Revenues

Debt issue and inter fund transfer are classified as Estimated ------------------------------------

The encumbrance account of a governmental unit is debited when?

The ------------------- account is debited and Reserve for Encumbrances budgetary fund balance is credited when a purchase order is approved.

The encumbrances account is debited and ----------------------------- budgetary fund balance is credited when a purchase order is approved

The encumbrances account is debited and Reserve for Encumbrances budgetary fund balance is credited when a ------------------ is approved

A budgetary fund balance reserved for encumbrances in excess of a balance of encumbrances indicates?

What account of a governmental unit is credited when taxpayers are billed for property taxes

The estimated revenues control account balance of a governmental fund type is eliminated when

The estimated revenues control account is eliminated when the ------------------ are closed.

The estimated ------------------------- account is eliminated when the budgetary accounts are closed.

Encumbrances outstanding at year end in a states general fund would most likely be reported as a ?

a public school district should recognize revenue from property taxes levies for its debt service fund when?

Revenue from property taxes are recognized when the revenue is ------------------- and ---------------------------.

For a capital projects fund, it is -------------------- to record depreciation expense.

Powell City purchased a piece of equipment to be used by a department financed by the general fund.  How should Powell report the acquisition in the general fund?

equipment purchases would be classified as a capital outlay ----------------------- in governmental fund financial statements.

The ---------------------- is a governmental fund that uses the current financial resources measurement focus and the modified accrual basis of accounting.

The general fund is a governmental fund that uses the current financial resources measurement focus and the ------------------basis of accounting.

The general fund is a governmental fund that uses the ----------------------- resources measurement focus and the modified accrual basis of accounting.

fixed assets are -------- expected to contribute to the generation of revenue and are therefore treated like an expenditure.

fixed assets are not expected to contribute to the generation of revenue and are therefore treated like an ------------------------.

how should state appropriations to a state university choosing to report as engaged only in business type activities be reported in its statement of revenues expenses and changes in net assets?

receiving state appropriations represents a ----------------------- transaction and will be treated as nonoperating revenues

receiving state appropriations represents a non exchange transaction and will be treated as ------------------------------

what is the major difference between an exchange transaction and a non exchange transaction for governmental units

an ------------------ transaction is a reciprocal transfer in which each party received and sacrifices something of approximately equal value

a ------------------------- transaction involves giving/receiving value without receiving/giving equal value in return.