上海对外经贸大学 高级财务会计学笔记-高级财务会计学（英）chapter 20.docVIP

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AdvancedAccounting,12e(Beamsetal.)

Chapter20AccountingforStateandLocalGovernmentalUnits-GovernmentalFunds

20.1MultipleChoiceQuestions

1)Whenacapitalleaseisusedtoleasefixedassetsforthegeneralgovernment,thegovernmentalfundacquiringthefixedassetsdebits________atthe________.

A)expenditures;futurevalueoftheminimumleasepayments

B)fixedassets;futurevalueoftheminimumleasepayments

C)expenditures;presentvalueoftheminimumleasepayments

D)fixedassets;presentvalueoftheminimumleasepayments

Answer:B

Objective:LO1,2

Difficulty:Easy

2)Whenrecordinganapprovedbudgetintotheaccountsofthegeneralfund,whichofthefollowingaccountswouldbecredited?

A)Appropriations

B)Encumbrances

C)Estimatedrevenues

D)Deferredrevenues

Answer:A

Objective:LO1,2

Difficulty:Easy

3)Whenacityentersintoacapitalleaseforafixedassetforthegeneralgovernment,

A)government-widestatementswillreporttheassetandliabilityfortheleasedasset.

B)government-widestatementswillreporttheliability,CapitalLeaseObligation.

C)governmentalfundstatementswillreportafixedasset.

D)governmentalfundstatementswillreportaliability,CapitalLeaseObligation.

Answer:A

Objective:LO1,2,5

Difficulty:Moderate

4)Theproceedsfromabondissuancefortheconstructionofanewpublicschoolshouldberecordedinthe________fundatthetimethebondsaresold.Atthetimeofthebondissue,thedebitistocashandthecreditisto________.

A)capitalprojects;revenues

B)general;bondspayable

C)general;otherfinancingsources

D)capitalprojects;otherfinancingsources

Answer:D

Objective:LO3

Difficulty:Easy

5)TheGeneralFundtransfers$50,000cashtotheDebtServiceFundtomeetannualinterestpayments.WhatentrydidtheDebtServiceFundprepare?

A)DebitCash$50,000,CreditRevenue$50,000

B)DebitCash$