Buy Best ACCT 567 Week 4 Midterm (Version 5)


Buy Best ACCT 567 Week 4 Midterm Version 5


  • 1a. What are the typical sources of financing for general governmental capital projects? Where are these sources reported in the statement of revenues, expenditures, and changes in fund balance for a Capital Projects Fund?
  • 1b. You are in a staff meeting with the city controller and one of your colleagues was quoted as follows: “Capital projects funds are established by a government to account for all plant or equipment acquired by construction.” Do you agree with this statement? Why or why not?
  • 1c. The City of Holland issued bonds on August 1, 2012. The interest on its bonds ……….? Would you have a different answer if the interest payment dates were July 15 and January 15? Please explain.
  • 2a. What are fiduciary funds? Please identify and explain the two main types and what is the main difference between the funds.
  • 2b. Under what circumstances should a governmental entity use a Special Revenue Fund? A Capital Projects Fund? A Debt Service Fund?
  • 2c. How are the major funds …….. governmental entity?



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