ACCT410 Questions

E2-3   (Fund and Nonfund Accounts Identification) Indicate the fund or nonfund accounts that should be used to account for each of the following:
1.   Tax revenues restricted for road maintenance. Special Revenue Funds
2.   Resources restricted for construction of a new government office building.
3.   Typical water and sewer departments. Enterprise Fund
4.   Unrestricted tax revenues. General Fund
5.   School buildings. Special Revenue Fund
6.   Bonds payable issued in a prior year for general government purposes. General Long-Term Liabilities
7.   The portion of general government bonds payable that matures in the next fiscal year.
8.   Cash and investments of a bond sinking fund established to service general government long-term debt.
9.   Capital assets of a government department that sells services to the public as the primary ongoing source of financing for its operations.
10.   Long-term note for the government’s central motor pool that “rents” vehicles to other departments and agencies of the government at a rate that reimbursed