Below is a list of various governmental accounting terms and concepts. Match the

Question

Below is a list of various governmental accounting terms and concepts. Match the letter next to the choices in the space provided below (USE CAPITAL LETTERS). There is only one choice per item a. Debt Services Fund b. Intra-period Equity c. Encumbrances d. Imposed Non-exchange Revenue e. Fiscal Accountability f. Internal Services Fund g. Enterprise Fund Agency Fund i. Statement of Revenues, Expenditures and Changes in Fund Balance j. Statement of Net Position k. General Revenues l. Balance Sheet m. Appropriations n. Depreciation o. Program Revenues. p. Expenditure q. Modified Accrual

Explanation / Answer

1. Occurs in the transaction sequence prior to the recording of an expenditure. - Q (modified accrual)

2. A government-wide financial statement. - I (statements of revenues, expenditures and changes in fund balance).

3. A type of fund that accounts for business-type activities. - G (Enterprise fund)

4. Insuring that all funds are used in accordance with laws and regulations. - F (Internal services fund)

5. Charges for services are a type of revenue. - K (general revenues)

6. Assets = liabilities + fund balance. - L (balance sheet)

7. A government fund. - A (debt service fund)

8. Other financing sources are reported on this financial statement. - J (statement of net position)

9. Hotel occupancy taxes are reported as this type of revenue. - D (imposed non exchange revenue)

10. The government has sufficient revenues in the current period to offset current costs of the period. - O (program revenues)

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