1.	Double entry book keeping or accounting is when Debits > Credits Debts < Credits Credits < Net assets Debits = Credits None of the above
2.	The following are key factors in the rating of municipal bonds 10 year trend of assessed valuations 3 years of annual financial statement review Trends of debt service All of the above
3.	The operating budget includes: Day to day operations Current year of the capital plan Debt service and insurance payment All of the above
4.	At the federal level, the budget proposed by the president is: The listing and definition of accounts and classification Final version of the budget Identifies appropriation bills Executive budget which is a budget request
5.	The Chart of Accounts for an organization: The listing and definition of accounts and classification does not help in organizing an organizations financial statements is the same for entities none of the above
6.	The incremental budget process Give automatic increases to all budget lines Looks at each year as independently and starts from 0 Easily identifies the base budget None of the above
7.	An example of a tangible asset is: Dividends to stockholders Office building fire truck b and d only all of the above
8.	Zero based budgeting Assumes no base budget from year to year Does not take history into account Calls for re-justifying all lines every budget cycle None of the above All of the above
9.	Full Cost Accounting helps to Identify the full cost of a good or service Tell us what happens if more or less of a service is offered Tells us what the price of an item is All of the above
10.	Differential Cost Accounting or marginal cost helps to Identify the full cost of a good or service Tell us what happens if more or less of a service is offered Tells us what the price of an item is All of the above
11.	Strategies for budget expansion may include: The new program will pay for itself We need to Finish what we started Across the board cuts for everyone Do nothing A and b only
12.	Financial Assets are recorded at: Market price Historical cost Replacement cost Depreciated cost
13.	Strategies for budget cuts may include The new program will pay for itself We need to Finish what we started Across the board cuts for everyone Do nothing
14.	Cost drives Need to be reliable Are easy to identify Are not easy to identify A and C only All of the above
15.	The type of budget that calls for measuring the efficiency of units is: Line item Performance Program Zero based