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Help with 6 questions please!?

If the operation of an intragovernmental service fund results in a loss, the loss will be covered by
A.the general fund
B.future profits
C.a special assessment
D.contingency reserves

A transaction in which a minicipality issues general obligation serial bonds to finance the construction of a fire station reuires accounting recognition in the
A.special revenue fund and enterprise fund
B.capital projects fund and the enterprise fund
C.capital projects fund and the general long-term debt group of accounts
D. special revenue fund and the general long-term debt group of accounts.

In order to control restricted resources, a not-for-profit organization establishes a fund which is
A.a special investment of restricted contributions
B.an independent financial and accounting entity
C.a retained earnings reserve
D.a special cash acocunt

If bonds are issued to finance the constructions of a new building, the proceeds of that bond issue would be recorded by debiting Cash and crediting
A.bonds payable
B.expenditures
C.revenues
D.capital expenditure

The operations of a public museum that receives most of its support from property taxes levied for that purpose should be accounted for in
A.the general fund
B.a special revenue fund
C.an enterprise fund
D.an intragivernemental service fund

In a nonexpendable fund, earned equity and invested equity are
A.equal
B.segregated
C.combined
D.undetermined

Help is appreciated!
  • 2 years ago
  • (Tiebreaker)

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Answers (1)

  • Answerer 1

    1. A
    2. C
    3. A.
    4. A
    5. A
    6. B

    I have not included explanations. Please send me your email address.
    • 2 years ago

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