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ACCT 4421 MODULE 1 PRACTICE QUESTIONS WITH CORRECT ANSWERS

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ACCT 4421 MODULE 1 PRACTICE QUESTIONS WITH CORRECT ANSWERS

Institution
ACCT 4421
Course
ACCT 4421

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1 of 49

Definition



Capital Project Fund



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The city sold bonds, face
The city collected $3,500,000 of the
value $26 million, at par to
current property tax levy dedicated
finance the construction of a
to the repayment of bonds.
new city hall.




The City of Brusly, the Town of
The city received a $50,000 grant
Walker, and the Village of Killian
from the State to support Pre-K
pool their idle cash to obtain higher
education.
interest income.


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, 2 of 49

Term



A government issued bonds to finance construction of a recreation
facility. The government's recreation department is part of its general
government operations.



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Internal Service Fund Special Revenue Fund




Capital Project Fund Debt Service Fund


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3 of 49

Definition



Investment Trust Fund



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The city spends $4 million to pave The city purchases stationary from
city streets using the proceeds of a an outside supplier that will be sold
gasoline tax dedicated for road to its various operating
highway improvements departments.




The city is provided funding for en
endowment for scholarships for the

, children of police officers disabled The City of Brusly, the Town of
on duty. Walker, and the Village of
Killian pool their idle cash to
obtain higher interest income.
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4 of 49

Term



The city receives $13 million to invest on behalf of the county.



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Internal Service Fund Investment Trust Fund




Capital Project Fund Special Revenue Fund


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5 of 49

Term



The operations of a municipal golf course receiving substantially all
of its ongoing support from green fees charged to golfers.



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Enterprise Fund Debt Service Fund

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Institution
ACCT 4421
Course
ACCT 4421

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