question archive 1) "Current Financial Resources" include Only cash and receivables Cash, prepaid items, receivables and PPE Cash, investments, prepaid items and receivables Only cash and investments 2
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1) "Current Financial Resources" include
Only cash and receivables
Cash, prepaid items, receivables and PPE
Cash, investments, prepaid items and receivables
Only cash and investments
2. Which of the following statements best describes an "appropriation"?
An appropriation is an expenditure of funds for a specific use.
An appropriation is a sum of money that has been set aside for a specific use.
An appropriation is an accrual of an expected expense for a specific use.
None of the above
3. Which of the following is not a Governmental Fund"?
General Fund
Special Revenue Fund
Capital Project Fund
Enterprise Fund
4. Which of the following best describes the notion of "accountability?
Accountability refers to the requirement that governments maintain an appropriate chart of accounts to aid them in the maintenance of their accounting records.
Accountability is based on the belief that citizens have a "right to know".
Accountability means that governments must maintain appropriate accounting systems.
None of the above
5. The "current financial resources measurement focus"
refers to the timely issuance of financial statements.
refers to what is being reported in the financial statements.
refers to resources that can be consumed in the near future.
refers to both B and C.
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