1. When equipment was purchased with general fund resources, which of the following accounts would have been increased in the general fund?

a. Due from general fixed assets account group

b. Expenditures

c. Appropriations

d. No entry should be made in the general fund

2. Which of the following funds would not be included in governmental fund financial statements?

a. Debt service fund

b. General fund

c. Permanent fund

d. Pension trust fund

3. When the purchases method of accounting for supplies is used, the financial statements of the related fund entity:

a. Need not show material amounts of supplies on hand as an asset

b. Must disclose the cost of supplies used during the period

c. Are substantially the same as they would be under the consumption method

d. Must disclose a fund balance reserve for material amounts of supplies on hand

4. When the consumption basis of accounting for supplies is used, the financial statements of the related fund entity must:

a. Show supply purchases as expenditures of the period

b. Show a fund balance restriction for material amounts of supplies on hand

c. Reflect the fact that perpetual inventory procedures have been used in accounting for supplies

d. Show supplies on hand as an asset

5. The receipts from a special tax levy to retire and pay interest on general obligation bonds should be recorded in a:

a. Debt service fund

b. Capital projects fund

c. Revolving interests fund

d. Special revenue fund