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The Material in Chapter 2 Is Best Suited for Two

Question 6

Essay

The material in Chapter 2 is best suited for two types of problems:
1. Matching funds to fund types or fund definitions; and
2. Transaction analysis.
Since transactions are an essential part of Chapters 3 through 12 and 16 through 18, we recommend using the transaction analysis with journal entries in those chapters. To that end, transaction analysis will be demonstrated in those chapters.
Indicate how the following funds types would be classified as to category: G governmental, P proprietary, or as F fiduciary.
1. Internal Service
2. Agency
3. General
4. Special Revenue
5. Investment Trust
6. Capital Projects
7. Debt Service
8. Pension Trust
9. Permanent
10. Enterprise
11. Private-Purpose Trust
Since transactions are an essential part of Chapters 3 through 12 and 16 through 18, we recommend using the transaction analysis with journal entries in those chapters. To that end, transaction analysis will be demonstrated in those chapters.
Indicate how the following funds types would be classified as to category: G governmental, P proprietary, or as F fiduciary.
1. Internal Service
2. Agency
3. General
4. Special Revenue
5. Investment Trust
6. Capital Projects
7. Debt Service
8. Pension Trust
9. Permanent
10. Enterprise
11. Private-Purpose Trust

Correct Answer:

verifed

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1. P
2. F
3. G
4. G
...

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