Are fiduciary funds governmental funds or pro prietary funds? Explain.
Answer to relevant QuestionsGASB 45 requires that the expected future costs of retiree health costs be recognized in the current period. Prior to this, governments used a pay-as-you-go plan in which only the current year’s actual payments affected ...The following transactions take place:1. A cement mixer was purchased with resources of the general fund.2. A contract was signed for the construction of a new civic center.3. Bonds were issued to finance the construction of ...The following transactions take place:1. The General Fund repaid the Special Revenue Fund a loan of $10,000 plus $900 in interest on the loan.2. On January 1, the city issued 9% general obligation bonds with a face value of ...The following information is available about items that differ between the governmental funds and the government-wide statements. Assume that there are no internal service funds. The schedule of capital assets prepared for ...The administrators of the City of Lyons have obtained approval from the City Council to centralize the computer facility as of January 1, 2012. An internal service fund is created to account for the activities of the ...
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