nese are coffect. It is proper to recognize revenues or expenditures resulting from which of the following classifications of interfund activity? A) Interfund loans and interfund transfers B) Interfund services provided/used and interfund reimbursements C) Interfund reimbursements and interfund loans D) Interfund services provided/used and interfund transfers Version 2 Page 2 T9. Which type of fund entities are used to account for the activities of nonbusiness organizations that are similar to those of business enterprises? A) Budgetary fund entities B) Proprietary fund entities C) Restricted fund entities D) Expendable fund entities 20/ Repayments from the funds responsible for a particular expenditure to the funds that initially paid for them are interfund: A) transfers. B) reimbursements. C) loans. D) services provided and used. In accounting for loan funds, revenue is recorded when the: A) loan is made to students. B) contribution is received. C) students graduate. D) loan is repaid by students. 24. Admissions, counseling and registration are considered to be: A) B) C) D) institutional support. auxiliary enterprises. educational and general services. student services. 28.) Under GASB Statement No. 34, a government-wide financial statement should include a: A) statement of revenues & and expenses. B) statement of activities. C) statement of financial position. D) notes to the financial statements. 30. Which of the following groups of not-for-profit entities must use fund accounting to be in conformity with GAAP? A) Governmental, Yes; Nongovernmental, Yes B) Governmental, No; Nongovernmental, Yes C) Governmental, No; Nongovernmental, No D) Governmental, Yes; Nongovernmental, No