ACCT 4421- EXAM Q&A
parish library operations are financed by a portion of the tax levy restricted for that
purpose - ANSWER-special revenue fund
the city purchases stationary from an outside supplier that will be sold to its various
operating departments - ANSWER-internal service fund
bonds issued to finance expansion of the city-owned electric utility company -
ANSWER-enterprise fund
the city receives a $5M contribution. the donor stipulates the money is to be invested
in marketable securities and the interest from the securities can be used to maintain
the city park. - ANSWER-permanent fund
the state receives escheat money from local banks - ANSWER-private purpose trust
fund
the city collects taxes on behalf of the parish in which it is located. holds for a
temporary period. - ANSWER-agency fund
the city of carencro collected $5M in general property taxes - ANSWER-general fund
the city of Lafayette collected $40M in hotel taxes that must be used to promote local
festivals - ANSWER-special revenue fund
the Shreveport city manager transferred $50,000 to establish a printer/copier center.
The center will be operated as a stand alone business. the center will bill the city for
services used - ANSWER-general fund --> enterprise fund
the city issued $20M in bonds to finance local park improvements. the cash was
placed in the fund restricted for acquisition of capital assets - ANSWER-capital
project fund
the city purchased a new building with the bond money it sold to finance local park
improvements. - ANSWER-capital project fund
the city transferred $70,000 to the debt service fund to meet p&i payments. -
ANSWER-general fund --> debt service fund
services are provided to the general public, and the costs of providing the services
are finances by user charges - ANSWER-enterprise funds
resources are accumulated to pay principal and interest on general long-term debt -
ANSWER-debt service fund
salaries are paid to police officers - ANSWER-general fund
parish library operations are financed by a portion of the tax levy restricted for that
purpose - ANSWER-special revenue fund
the city purchases stationary from an outside supplier that will be sold to its various
operating departments - ANSWER-internal service fund
bonds issued to finance expansion of the city-owned electric utility company -
ANSWER-enterprise fund
the city receives a $5M contribution. the donor stipulates the money is to be invested
in marketable securities and the interest from the securities can be used to maintain
the city park. - ANSWER-permanent fund
the state receives escheat money from local banks - ANSWER-private purpose trust
fund
the city collects taxes on behalf of the parish in which it is located. holds for a
temporary period. - ANSWER-agency fund
the city of carencro collected $5M in general property taxes - ANSWER-general fund
the city of Lafayette collected $40M in hotel taxes that must be used to promote local
festivals - ANSWER-special revenue fund
the Shreveport city manager transferred $50,000 to establish a printer/copier center.
The center will be operated as a stand alone business. the center will bill the city for
services used - ANSWER-general fund --> enterprise fund
the city issued $20M in bonds to finance local park improvements. the cash was
placed in the fund restricted for acquisition of capital assets - ANSWER-capital
project fund
the city purchased a new building with the bond money it sold to finance local park
improvements. - ANSWER-capital project fund
the city transferred $70,000 to the debt service fund to meet p&i payments. -
ANSWER-general fund --> debt service fund
services are provided to the general public, and the costs of providing the services
are finances by user charges - ANSWER-enterprise funds
resources are accumulated to pay principal and interest on general long-term debt -
ANSWER-debt service fund
salaries are paid to police officers - ANSWER-general fund
