Reference no: EM131211300
Match the activity of the following to the fund it would most likely be considered: ( Answer Key Provided and answers can be used multiple times or not at all)
1) Police Department normal operating expenditures.
2) Proceeds from the Governmental Unit's bond sale (monies received from issuance of long-term debt).
3) Grant received for general purposes in which the entire amount (including the principal and any earnings) can be spent.
4) Taxes collected by the town on behalf of the town's School District.
5) User fees billed to the public for their individual water usage
6) Property tax collections to support the governmental unit's budgeted operations.
7) Interest and principal payments on the current portion of long-term debt.
8) Construction of a new firehouse.
9) Charges billed to other departments within the governmental unit for each unit's actual usage of gasoline
10) Funds the governmental unit received from a higher level of government for the sole purpose of distributing those funds to lower levels of government based on qualifications.
Answer Key:
A) General Fund
B) Special Revenue Fund
C) Permanent Fund
D) Capital Projects Fund
E) Debt Service Fund
F) Interal Service Fund
G) Enterprise Fund
H) Agency Fund
I) Private Purpose Trust Fund
J) Pension Trust Fund
K) Investment Trust Fund
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