CH 17 Governmental Entities Introduction and General Fund Accounting

Chapter 17 - Governmental Entities: Introduction and General Fund Accounting
Chapter 17
Governmental Entities: Introduction and General Fund Accounting

Multiple Choice Questions

1. Under the modified accrual asis of accounting! revenue should e recogni"ed #hen it is:
A. measurale and earned.
$. received in cash.
C. availale and earned.
%. measurale and availale.

&. 'hich of the follo#ing statements is(are) correct aout the funds used * governmental
entities+

A. I onl*
$. II onl*
C. I and II
%. ,either I nor II

-. 'hich of the follo#ing funds should use the accrual asis of accounting+
A. Enterprise and private-purpose trust funds.
$. .ermanent funds and internal service funds.
C. %et service and agenc* funds.
%. /pecial revenue and capital pro0ects funds.

1. 'hich of the follo#ing funds should use the modified accrual asis of accounting+
A. .rivate-purpose trust and agenc* funds.
$. Capital pro0ects and special revenue funds.
C. Internal service and enterprise funds.
%. %et service and private-purpose trust funds.

17-1
2. 'hich of the follo#ing funds are classified as fiduciar* funds+
A. Agenc* and /pecial revenue funds.
$. Internal service and Enterprise funds.
C. .rivate-purpose trust and Agenc* funds.
%. Capital pro0ects and %et service funds.

3. 'hich of the follo#ing funds are classified as proprietar* funds+
A. Agenc* and special revenue funds.
$. Enterprise and internal service funds.
C. %et service and capital pro0ects funds.
%. Agenc* and pension trust funds.

7. 'hich of the follo#ing funds are classified as governmental funds+
A. Internal service and capital pro0ects funds.
$. Internal service and det service funds.
C. Enterprise and agenc* funds.
%. 4he general and special revenue funds.

5. 'hich organi"ation has the authorit* to estalish generall* accepted accounting principles
for state and local government entities+
A. 4he ,ational Council on Governmental Accounting
$. 4he Governmental Accounting /tandards $oard
C. 4he Financial Accounting /tandards $oard
%. 4he 6unicipal 7fficers Finance 7rgani"ation

8. 'hat is the correct se9uence in the e:penditure process in governmental accounting+
A. Appropriation! Encumrance! E:penditure! and %isursement.
$. Encumrance! E:penditure! %isursement! and Appropriation.
C. E:penditure! Encumrance! %isursement! and Appropriation.
%. Appropriation! E:penditure! Encumrance! and %isursement.

17-&
1;. 'hich of the follo#ing oservations concerning encumrances is ,74 true+
A. 4heir purpose is to ensure that the e:penditures #ithin a period do not e:ceed the udgeted
appropriations.
$. 4he* provide a control s*stem and safeguard for governmental unit administrators.
C. 4he* are a uni9ue element of governmental accounting.
%. 4he* are recogni"ed onl* at the time disursements are made.

11. 4he Cit* of Ames uses the consumption method to report its inventor* of supplies on its
general fund alance sheet. 'hat account is deited in the general fund #hen Ames ac9uires
supplies+
A. E:penditures
$. Inventor* of /upplies
C. /upplies E:pense
%. Fund $alance-<eserved for Inventories

1&. 7n =ul* &2! &;;5! the cit* of .ullman! #hich reports on a calendar-*ear asis! ordered five
police cars at an estimated cost of >&;;!;;;. 7n August &3! &;;5! the police cars #ere
received! and the actual cost amounted to >187!;;;. .ullman encumered the appropriation
for police cars in its general fund #hen the cars #ere ordered. 'hen the police cars #ere
received! the general fund of .ullman should:
A. Credit $udgetar* Fund $alance <eserved for Encumrances for >187!;;;.
$. %eit Encumrances for >&;;!;;;.
C. %eit E:penditures for >187!;;;.
%. Credit $udgetar* Fund $alance <eserved for E:penditures for >&;;!;;;.

17--
1-. 'hat amount should e reported as e:penditures for the current fiscal *ear #hen
accounting for inventories of supplies under the purchase method and under the consumption
method+

A. 7ption A
$. 7ption $
C. 7ption C
%. 7ption %

11. 4he 4o#n of .asco has no supplies inventor* in its general fund on =anuar* 1! &;;5.
%uring &;;5! .asco incurred e:penditures of >&;;!;;; for the ac9uisition of supplies. 7n
%ecemer -1! &;;5! .asco?s inventor* of supplies amounted to >-;!;;;. Assume .asco uses
the purchase method of accounting for supplies in its general fund and that the village reports
on the calendar *ear. 7n %ecemer -1! &;;5! the general fund of .asco should credit:
A. E:penditures for >17;!;;;.
$. Fund $alance-Unreserved for >17;!;;;.
C. Fund $alance-<eserved for Inventories for >-;!;;;.
%. E:penditures for >-;!;;;.

12. 'hich of the follo#ing funds provides goods and services onl* to other departments or
agencies of the government on a cost-reimursement asis+
A. Internal service funds
$. Enterprise funds
C. /pecial revenue funds
%. 4he general fund

17-1
13. 4he follo#ing information #as otained from the general fund alance sheet of @ima
Aillage on =une -;! &;;8! the close of its fiscal *ear:

7n =une -;! &;;8! #hat #as @ima?s unreserved fund alance in its general fund+
A. >51!;;;
$. >11!;;;
C. >-1!;;;
%. >&1!;;;

17. 4he general fund of .arB Cit* ac9uired computer e9uipment at a cost of >2;!;;; on 6a*
15! &;;8. 4o record ac9uisition of this e9uipment! the general fund of .arB Cit* should deit:
A. e:penditures.
$. encumrances.
C. e9uipment.
%. vouchers pa*ale.

15. 'hich of the follo#ing characteristics are emphasi"ed in the accounting for state and local
government entities+
I. <evenues should e matched #ith e:penditures to measure success or failure of the
government entit*.
II. 4here is an emphasis on e:pendailit* of resources to accomplish o0ectives of the
governmental entit*.
A. I onl*
$. II onl*
C. I and II
%. ,either I nor II

17-2
18. 'orBs of art and historical treasures purchased * the general fund should e reported as:

A. I onl*.
$. II onl*.
C. $oth I and II
%. ,either I nor II.

&;. Identif* the legal term that allo#s the general fund to maBe e:penditures.
A. E:ceptions
$. Appropriations
C. Encumrances
%. Consumption

&1. Under the modified accrual asis of accounting for the general fund! e:penditures should
e recogni"ed in the period in #hich the related liailit* is:

A. I onl*
$. II onl*
C. $oth I and II
%. ,either I nor II

&&. In accounting for governmental funds! #hich of the follo#ing items could appear onl* on
government-#ide financial statements+

A. I onl*
$. I and II
C. I and III
%. I! II! III

17-3
&-. 4he general fund of Catteras ac9uired a fire trucB during the fiscal *ear ended =une -;!
&;;8. 4he purchase order for the fire trucB #as recorded on Feruar* 12! &;;8. Catteras?
ac9uisition of the fire trucB re9uired #hich of the follo#ing se9uences of accounting
activities+
I. Appropriation
II. Encumrance
III. E:penditure
A. II! I! III.
$. I! III! II.
C. III! II! I.
%. I! II! III.

&1. $lue <idge 4o#nship uses the consumption method of accounting for its inventor* of
supplies. 7n the %ecemer -1! &;;7 alance sheet for the general fund! the to#nship reported
>1;!;;; of supplies inventor*. %uring &;;5! e:penditures for supplies amounted to >1;!;;;!
and! at %ecemer -1! &;;5! unused supplies totalled >7!;;;. In the ad0usting entr* for
supplies at %ecemer -1! &;;5!
A. E:penditures should e credited for >-!;;;.
$. E:penditures should e deited for >-!;;;.
C. Fund $alance-<eserved for Inventories should e deited for >7!;;;.
%. Fund $alance-<eserved for Inventories should e credited for >7!;;;.

Gotham Cit* ac9uires >&2!;;; of inventor* on ,ovemer 1! &;;7! having held no inventor*
previousl*. 7n %ecemer -1! &;;7! the end of Gotham Cit*?s fiscal *ear! a ph*sical count
sho#s >5!;;; still in stocB. %uring &;;5! >3!2;; of this inventor* is used! resulting in a
>1!2;; remaining alance of supplies on %ecemer -1! &;;5.

17-7
&2. $ased on the preceding information! #hich of the follo#ing #ould e the correct account
alances for &;;7 if Gotham Cit* used the purchase method of accounting for inventories+

A. 7ption A
$. 7ption $
C. 7ption C
%. 7ption %


A. 7ption A
$. 7ption $
C. 7ption C
%. 7ption %

alances for &;;7 if Gotham Cit* used the consumption method of accounting for
inventories+

A. 7ption A
$. 7ption $
C. 7ption C
%. 7ption %

17-5
inventories+

A. 7ption A
$. 7ption $
C. 7ption C
%. 7ption %

&8. 'hich of the follo#ing accounts are deited #hen closing entries are made for the general
fund (assume outstanding encumrances lapse at *ear-end)+

A. I! II! III! AI.
$. I! II! IA.
C. I! IA! A! AI.
%. III! IA! A.

-;. 4he general fund of the Cit* of Columia transferred mone* to estalish an internal
service fund for the cit*?s data processing needs. 4he general fund of Columia should
account for this transaction as a(n):
A. e:penditure.
$. interfund transfer.
C. interfund reimursement.
%. loan.

17-8
-1. In a to#n?s general fund operating udget for the *ear! the amount of its estimated
revenues e:ceeded the amount of its appropriations. 4his e:cess should e:
A. credited to $udgetar* Fund $alance-Unreserved.
$. deited to $udgetar* Fund $alance-Unreserved.
C. credited to Fund $alance-Unreserved.
%. deited to Fund $alance-Unreserved.

-&. 4he general fund of the 4o#n of %ean levied propert* ta:es of >-!;;;!;;; for the fiscal
*ear eginning on =anuar* 1! &;;5. It #as estimated that 1D of the lev* #ould e
uncollectile. %uring the period =anuar* 1! &;;5! through %ecemer -1! &;;5! >&!83;!;;; of
the propert* ta: lev* #as collected. At %ecemer -1! &;;5! %ean estimated that >1;!;;; of
propert* ta:es levied in &;;5 #ould e collected during the first 3; da*s of &;;8. 'hat
amount of propert* ta: revenue should e reported * the general fund for the *ear ended
%ecemer -1! &;;5+
A. >&!83;!;;;
$. >-!;;;!;;;
C. >&!87;!;;;
%. >&!88;!;;;

--. 4he general fund of the Cit* of Atlanta received a checB for >1;!;;; from an Atlanta
resident on =ul* 1! &;;5. 7f the amount received! >1!5;; represented full pa*ment of propert*
ta:es for &;;5! and the remaining >2!&;; represented an advance pa*ment for propert* ta:es
of &;;8. 7n =ul* 1! &;;5! the general fund should record the receipt * deiting Cash for
>1;!;;; and * crediting
A. <evenue-.ropert* 4a: for >1;!;;;.
$. .ropert* 4a:es <eceivale-Current for >1!5;; and %eferred <evenue for >2!&;;.
C. <evenue-.ropert* 4a: for >1!5;; and %eferred <evenue for >2!&;;.
%. .ropert* 4a:es <eceivale-Current for >1!5;; and <evenue- .ropert* 4a: for >2!&;;.

17-1;
-1. 4he general fund of Cald#ell had the follo#ing operating udget for the fiscal *ear
eginning =ul* 1! &;;8:

'hen the general fund records its operating udget on =ul* 1! &;;8! $udgetar* Fund $alance-
Unreserved should e
A. credited for >3;;!;;;.
$. deited for >8;;!;;;.
C. deited for >3;;!;;;.
%. credited for >8;;!;;;.

-2. 4he general fund of <ichmond #as illed >&&!;;; on August 12! &;;5! for using the
services of one of its internal service funds (I/F). 'hat accounts should e deited and
credited! respectivel*! in the general fund on August 12! &;;5! to record this transaction+
A. E:penditures and 4ransfer 7ut to I/F
$. E:penditures and %ue to I/F
C. Encumrances and %ue to I/F
%. Encumrances and 4ransfer 7ut to I/F

-3. 4he general fund of $attle CreeB udgeted a transfer to its capital pro0ects fund for
>11;!;;; to e used in operations during the *ear ended =une &;! &;;8. 7n /eptemer 12!
&;;5! the general fund transferred >11;!;;; to the capital pro0ects fund. 'hat account should
e deited in the general fund on /eptemer 12 to record this transfer+
A. Appropriations
$. E:penditures
C. $udgetar* Fund $alanceE<eserved For Encumrances
%. 7ther Financing UsesE4ransfer 7ut to Capital .ro0ects Fund

-7. 4he general fund of /un Cit* #as illed >7!;;; for using the services of one of its internal
service funds. 4he general fund should account for this transaction as a(n)
A. interfund transfer.
$. interfund loan.
C. interfund service.
%. interfund reimursement for services rendered.

17-11
-5. 4he general fund of Athens ordered computer e9uipment on %ecemer 1! &;;5! for
>-&!;;;. 4he order #as appropriatel* encumered on this date. Athens received the computer
e9uipment on =anuar* &2! &;;8! and issued a voucher to pa* the vendor >-&!1;;. Athens uses
the calendar *ear for reporting! and all outstanding encumrances lapse at *ear-end. Athens?
governing oard honors all outstanding encumrances * including them in the follo#ing
*ear?s appropriations. 7n =anuar* &2! &;;8! the general fund of Athens should deit:
A. Encumrances for >-&!;;;.
$. Fund $alance-<eserved for Encumrances for >-&!1;;.
C. E:penditures-&;;5 for >-&!1;;.
%. E:penditures for >-&!1;;.

-8. 4he general fund of @oveland ordered a ne# fire trucB on ,ovemer 1&! &;;5! for
>12;!;;;. 4he order #as appropriatel* encumered on this date. @oveland received the fire
trucB on =anuar* 12! &;;8! and issued a voucher to the manufacturer for >115!3;;. @oveland
uses the calendar *ear for reporting! and outstanding encumrances at %ecemer -1! &;;5! are
lapsing. 7n =anuar* 12! &;;8! the general fund of @oveland should deit:
A. Fund $alance-<eserved for Encumrances for >115!3;;.
$. E:penditures for >115!3;;.
C. E:penditures-&;;5 for >115!3;;.
%. Encumrances for >115!3;;.

1;. 'hich comination of fund and measurement asis is correct+

A. 7ption A
$. 7ption $
C. 7ption C
%. 7ption %

17-1&
11. 4he general fund of 'old 4o#nship ordered office furniture for the ma*or?s office on
August 1! &;;5. 4he office furniture #as estimated to cost >1&!;;;. 4he office furniture #as
received on /eptemer 1! &;;5! #ith the actual cost eing >11!5;;. 'hich of the follo#ing
accounts decreased on /eptemer 1! &;;5+
A. Encumrances onl*.
$. E:penditures onl*.
C. Encumrances and $udgetar* Fund $alance-<eserved for Encumrances.
%. E:penditures and $udgetar* Fund $alance-<eserved for Encumrances.

1&. At the end of the fiscal *ear! uncollected propert* ta:es in the general fund should e:
A. reclassified from current to delin9uent.
$. #ritten off as uncollectile.
C. charged against unreserved fund alance.
%. reclassified from current to noncurrent.

1-. 4he 4o#n of $aBer reported the follo#ing items on the =une -;! &;;8! alance sheet of its
general fund:

At =une -;! &;;8! #hat amount should e reported for Fund $alance-Unreserved+
A. >13!;;;
$. >1;!;;;
C. >-;!;;;
%. >13!;;;

11. 'hich of the financial statements descried elo# is prepared * the general fund of a
state or local government+
A. A statement of cash flo#s.
$. An income statement.
C. A statement of revenues! e:penses! and changes in retained earnings.
%. A statement of revenues! e:penditures! and changes in fund alance.

17-1-
12. 'hich accounts descried elo# #ould have non-"ero alances after the accounts are
closed in the general fund of a state or local government+

A. I! II! III.
$. I! II! IA.
C. IA! A! AI.
%. III! IA! A.

13. %ue to an error! the general fund of .uelo did not record an encumrance for police
e9uipment #hich had een ordered ut not received on =une -;! &;;8! the end of its fiscal
*ear. .uelo?s outstanding encumrances at *ear-end are nonlapsing. 'hat #as the effect of
this error on the alance sheet of .uelo?s general fund+
A. Assets are overstated.
$. @iailities are understated.
C. 4otal fund alance is overstated.
%. Unreserved fund alance is overstated.

17. In a statement of revenues! e:penditures! and changes in fund alance! the unreserved
fund alance #ill e increased *:
I. a decrease in the fund alance reserved for inventories.
II. an e:cess of other financing sources over other financing uses.
A. I onl*
$. II onl*
C. $oth I and II
%. ,either I nor II

15. Assuming there is a udget surplus! #hich of the follo#ing accounts are credited #hen the
general fund records its operating udget at the eginning of the *ear+
A. Appropriations Control and $udgetar* Fund $alanceEUnreserved.
$. Estimated <evenues Control and Estimated <esidual E9uit* 4ransfer 7ut.
C. $udgetar* Fund $alanceE<eserved For Encumrances and E:penditures.
%. Estimated <esidual E9uit* 4ransfer 7ut and Estimated 4ransfer In.

17-11
18. <evenues from parBing meters and parBing fines should e reported in the general fund
#hen:
A. received.
$. measurale and availale.
C. measurale and earned.
%. availale.

2;. 4he general fund of Gillette levied propert* ta:es of >1;;!;;; on ,ovemer 1! &;;5.
Co#ever! the propert* ta:es are not collectile until 6a* and August of &;;8. Assume
Gillette reports on the calendar *ear. 7n Gillette?s general fund alance sheet at %ecemer -1!
&;;5! the propert* ta:es levied on ,ovemer 1 should:
A. e reported as an asset and as a decrease in unreserved fund alance.
$. e reported as an asset and as an increase in unreserved fund alance.
C. e reported as an asset and as a reservation of fund alance.
%. e reported as an asset and as a deferred revenue.

21. 'hich of the follo#ing items should not e included as revenue for a state government+
A. .ropert* ta:es levied in the current fiscal *ear.
$. .rivate propert* for #hich a state taBes custod* #hen the legal o#ner cannot e found.
C. Amounts received from other financing sources.
%. Fines and licensing fees for #hich amounts cannot e udgeted.

2&. GA/$ -1 FAccounting for Financial <eporting for Certain Investments and for E:ternal
<eporting Investment .ools!F estalishes a general rule that government entities value
investments in option contracts! open-ended mutual funds! and det securities for alance
sheet presentation at:
A. lo#er of cost or marBet.
$. fair value.
C. cost.
%. amorti"ed cost.

17-12
2-. All of the follo#ing funds have a financial resources measurement focus #ith the
e:ception of #hich fund+
A. det service fund
$. special revenue fund
C. capital pro0ects fund
%. private-purpose trust fund

21. 'hen an internal service fund (I/F) enters into a capital lease the transaction is recorded
in the:
I. fi:ed assets of the I/F.
II. long-term det of the I/F.
A. I onl*
$. II onl*
C. $oth I and II
%. ,either I nor II

22. 'hich of the follo#ing items is not recogni"ed as revenue * a governmental unit+
A. sales ta: proceeds
$. propert* ta: levies
C. ond proceeds
%. grants received from other governmental units

23. GA/$ -1 estalished four t*pes of interfund activities. Interfund activities are recogni"ed
as revenue in a governmental fund for an:

A. 7ption A
$. 7ption $
C. 7ption C
%. 7ption %

17-13
27. 4he general ledger of $road#a* contains the follo#ing selected account alances:

$road#a* #ants to order additional goods and services efore the fiscal *ear end. 'hat is the
unencumered alance of the udget that ma* e e:pended * $road#a*+
A. >52;!;;;
$. >73;!;;;
C. >15;!;;;
%. >1-;!;;;

25. At an* time! the remaining appropriating authorit* availale to the fund managers is e9ual
to:
A. Appropriations minus E:penditures
$. Appropriations minus (Encumrances G E:penditures)
C. Appropriations minus (Encumrances - E:penditures)
%. Appropriations minus Encumrances

28. 'hich of the follo#ing oservations concerning interfund transfers is true+
A. 4he* are e:pected to e repaid.
$. 4he* are classified as fund revenues or e:penditures.
C. 4he receiving fund recogni"es these transfers as revenue.
%. 4hese transfers are classified under F7ther Financing /ources or Uses.F

3;. According to the latest GA/$ e:posure draft! #hich of the follo#ing is the onl*
governmental fund t*pe that ma* report an unassigned fund alance+
A. General fund
$. /pecial revenue fund
C. Capital pro0ects fund
%. .ermanent fund

17-17
31. 'hich governmental fund includes resources that are legall* restricted so that the
governmental entit* must maintain the principal and can use onl* the earnings from the fund?s
resources to enefit the government?s programs for all of its citi"ens+
A. General fund
%. .ermanent fund

Essay Questions

3&. $riefl* discuss the various t*pes of governmental funds and proprietar* funds.

3-. %iscuss ma0or differences et#een a governmental entit*?s uses of the modified accrual
method and a for-profit corporation?s use of the accrual method.

17-15
31. 4he to#n of /to# #as incorporated and egan governmental operations on =ul* 1! &;;5.
/to#?s transactions and events for the fiscal *ear ended =une -;! &;;8! are listed elo#. /to#
uses the consumption method of accounting for purchases of supplies. Encumrances do not
lapse at *ear end.
<e9uired:
.repare the 0ournal entr* (ies) re9uired in the general fund for each of the follo#ing
transactions or events.
a. 4he to#n udget #as approved! providing for revenues of >5;;!;;;! a >1;!;;; transfer to
estalish an internal service fund (I/F)! and e:penditures of >72;!;;;.
. .ropert* ta:es #ere levied in the amount of >7;;!;;;! #ith 1 percent of the total estimated
to e uncollectile.
c. .urchase orders #ere issued in the amount of >8;!;;; for e9uipment! and >3-2!;;; for
other goods and services.
d. Collections for fines and licenses totaled >88!;;; for the *ear.
e. .ropert* ta:es collected amounted to >35;!;;;H the alance #as reclassified as delin9uent!
and the allo#ance for uncollectile ta:es #as reduced to >12!;;;.
f. 4he e9uipment ordered #as received! and a voucher #as issued for the final invoice cost of
>81!;;;.
g. All ut >1&!;;; of the other goods and services ordered #as received. Aouchers #ere issued
for the invoice cost of >3&&!;;;.
h. All ut >1;!;;; of the vouchers issued during the *ear #as paid.
i. A transfer in the amount of >1;!;;; #as made to estalish an internal service fund for the
to#n. 4he general fund received services of >7!;;; from the internal service fund during the
*ear! #ith >&!;;; remaining unpaid at *ear end.
0. E:penditures recorded for the *ear included the purchase of supplies. 4he estimated alance
of supplies on hand at *ear end #as >&!;;;.
B. A reserve #as estalished at *ear end for the outstanding encumrances! all of #hich #ill
e honored in the ne:t fiscal *ear.
l. Closing entries #ere made.

17-18

32. Accounting processes differ et#een a for-profit entit* and a governmental entit*. %iscuss
three differences et#een a governmental entit* and a for-profit entit*.

17-&;
33. 4he ad0usted trial alance for 'hite <iver for the fiscal *ear ended =une -;! &;;8! is
presented elo#.

<e9uired:
a. .repare a statement of revenues! e:penditures! and changed in fund alance for 'hite <iver
for the *ear ended =une -;! &;;8. Assume there #ere no supplies or outstanding
encumrances at the eginning of the *ear.
. .repare a alance sheet for 'hite <iver at =une -;! &;;8.

Chapter 17 Governmental Entities: Introduction and General Fund Accounting
Ans#er Ie*

17-&1
Multiple Choice Questions

1. Under the modified accrual asis of accounting! revenue should e recogni"ed #hen it is:
A. measurale and earned.
$. received in cash.
C. availale and earned.
D measurale and availale.

AACSB: Reflective Thinking
AICPA: Decision Making

&. 'hich of the follo#ing statements is(are) correct aout the funds used * governmental
entities+

A. I onl*
$. II onl*
C I and II
%. ,either I nor II


-. 'hich of the follo#ing funds should use the accrual asis of accounting+
A Enterprise and private-purpose trust funds.
$. .ermanent funds and internal service funds.
C. %et service and agenc* funds.
%. /pecial revenue and capital pro0ects funds.


17-&&
1. 'hich of the follo#ing funds should use the modified accrual asis of accounting+
A. .rivate-purpose trust and agenc* funds.
! Capital pro0ects and special revenue funds.
C. Internal service and enterprise funds.
%. %et service and private-purpose trust funds.


2. 'hich of the follo#ing funds are classified as fiduciar* funds+
A. Agenc* and /pecial revenue funds.
$. Internal service and Enterprise funds.
C .rivate-purpose trust and Agenc* funds.
%. Capital pro0ects and %et service funds.


3. 'hich of the follo#ing funds are classified as proprietar* funds+
A. Agenc* and special revenue funds.
! Enterprise and internal service funds.
C. %et service and capital pro0ects funds.
%. Agenc* and pension trust funds.


7. 'hich of the follo#ing funds are classified as governmental funds+
A. Internal service and capital pro0ects funds.
$. Internal service and det service funds.
C. Enterprise and agenc* funds.
D 4he general and special revenue funds.


17-&-
5. 'hich organi"ation has the authorit* to estalish generall* accepted accounting principles
for state and local government entities+
A. 4he ,ational Council on Governmental Accounting
! 4he Governmental Accounting /tandards $oard
C. 4he Financial Accounting /tandards $oard
%. 4he 6unicipal 7fficers Finance 7rgani"ation


8. 'hat is the correct se9uence in the e:penditure process in governmental accounting+
A Appropriation! Encumrance! E:penditure! and %isursement.
$. Encumrance! E:penditure! %isursement! and Appropriation.
C. E:penditure! Encumrance! %isursement! and Appropriation.
%. Appropriation! E:penditure! Encumrance! and %isursement.


1;. 'hich of the follo#ing oservations concerning encumrances is ,74 true+
A. 4heir purpose is to ensure that the e:penditures #ithin a period do not e:ceed the udgeted
appropriations.
$. 4he* provide a control s*stem and safeguard for governmental unit administrators.
C. 4he* are a uni9ue element of governmental accounting.
D 4he* are recogni"ed onl* at the time disursements are made.


17-&1
11. 4he Cit* of Ames uses the consumption method to report its inventor* of supplies on its
general fund alance sheet. 'hat account is deited in the general fund #hen Ames ac9uires
supplies+
A E:penditures
$. Inventor* of /upplies
C. /upplies E:pense
%. Fund $alance-<eserved for Inventories


1&. 7n =ul* &2! &;;5! the cit* of .ullman! #hich reports on a calendar-*ear asis! ordered five
police cars at an estimated cost of >&;;!;;;. 7n August &3! &;;5! the police cars #ere
received! and the actual cost amounted to >187!;;;. .ullman encumered the appropriation
for police cars in its general fund #hen the cars #ere ordered. 'hen the police cars #ere
received! the general fund of .ullman should:
A. Credit $udgetar* Fund $alance <eserved for Encumrances for >187!;;;.
$. %eit Encumrances for >&;;!;;;.
C %eit E:penditures for >187!;;;.
%. Credit $udgetar* Fund $alance <eserved for E:penditures for >&;;!;;;.

AACSB: Analytic

17-&2
1-. 'hat amount should e reported as e:penditures for the current fiscal *ear #hen
accounting for inventories of supplies under the purchase method and under the consumption
method+

A. 7ption A
$. 7ption $
C. 7ption C
D 7ption %


11. 4he 4o#n of .asco has no supplies inventor* in its general fund on =anuar* 1! &;;5.
%uring &;;5! .asco incurred e:penditures of >&;;!;;; for the ac9uisition of supplies. 7n
%ecemer -1! &;;5! .asco?s inventor* of supplies amounted to >-;!;;;. Assume .asco uses
the purchase method of accounting for supplies in its general fund and that the village reports
on the calendar *ear. 7n %ecemer -1! &;;5! the general fund of .asco should credit:
A. E:penditures for >17;!;;;.
$. Fund $alance-Unreserved for >17;!;;;.
C Fund $alance-<eserved for Inventories for >-;!;;;.
%. E:penditures for >-;!;;;.


12. 'hich of the follo#ing funds provides goods and services onl* to other departments or
agencies of the government on a cost-reimursement asis+
A Internal service funds
$. Enterprise funds
C. /pecial revenue funds
%. 4he general fund


17-&3
13. 4he follo#ing information #as otained from the general fund alance sheet of @ima
Aillage on =une -;! &;;8! the close of its fiscal *ear:

7n =une -;! &;;8! #hat #as @ima?s unreserved fund alance in its general fund+
A. >51!;;;
$. >11!;;;
C >-1!;;;
%. >&1!;;;

AACSB: Analytic
AICPA: Measurement

17. 4he general fund of .arB Cit* ac9uired computer e9uipment at a cost of >2;!;;; on 6a*
15! &;;8. 4o record ac9uisition of this e9uipment! the general fund of .arB Cit* should deit:
A e:penditures.
$. encumrances.
C. e9uipment.
%. vouchers pa*ale.


15. 'hich of the follo#ing characteristics are emphasi"ed in the accounting for state and local
government entities+
I. <evenues should e matched #ith e:penditures to measure success or failure of the
government entit*.
II. 4here is an emphasis on e:pendailit* of resources to accomplish o0ectives of the
governmental entit*.
A. I onl*
! II onl*
C. I and II
%. ,either I nor II


17-&7
18. 'orBs of art and historical treasures purchased * the general fund should e reported as:

A. I onl*.
$. II onl*.
C $oth I and II
%. ,either I nor II.


&;. Identif* the legal term that allo#s the general fund to maBe e:penditures.
A. E:ceptions
! Appropriations
C. Encumrances
%. Consumption


&1. Under the modified accrual asis of accounting for the general fund! e:penditures should
e recogni"ed in the period in #hich the related liailit* is:

A. I onl*
$. II onl*
C. $oth I and II
D ,either I nor II


17-&5
&&. In accounting for governmental funds! #hich of the follo#ing items could appear onl* on
government-#ide financial statements+

A. I onl*
! I and II
C. I and III
%. I! II! III


&-. 4he general fund of Catteras ac9uired a fire trucB during the fiscal *ear ended =une -;!
&;;8. 4he purchase order for the fire trucB #as recorded on Feruar* 12! &;;8. Catteras?
ac9uisition of the fire trucB re9uired #hich of the follo#ing se9uences of accounting
activities+
I. Appropriation
II. Encumrance
III. E:penditure
A. II! I! III.
$. I! III! II.
C. III! II! I.
D I! II! III.


&1. $lue <idge 4o#nship uses the consumption method of accounting for its inventor* of
supplies. 7n the %ecemer -1! &;;7 alance sheet for the general fund! the to#nship reported
>1;!;;; of supplies inventor*. %uring &;;5! e:penditures for supplies amounted to >1;!;;;!
and! at %ecemer -1! &;;5! unused supplies totalled >7!;;;. In the ad0usting entr* for
supplies at %ecemer -1! &;;5!
A. E:penditures should e credited for >-!;;;.
! E:penditures should e deited for >-!;;;.
C. Fund $alance-<eserved for Inventories should e deited for >7!;;;.
%. Fund $alance-<eserved for Inventories should e credited for >7!;;;.

AACSB: Analytic

17-&8
Gotham Cit* ac9uires >&2!;;; of inventor* on ,ovemer 1! &;;7! having held no inventor*
previousl*. 7n %ecemer -1! &;;7! the end of Gotham Cit*?s fiscal *ear! a ph*sical count
sho#s >5!;;; still in stocB. %uring &;;5! >3!2;; of this inventor* is used! resulting in a
>1!2;; remaining alance of supplies on %ecemer -1! &;;5.


A. 7ption A
$. 7ption $
C. 7ption C
D 7ption %

AACSB: Analytic
AICPA: Measurement


A. 7ption A
! 7ption $
C. 7ption C
%. 7ption %

AACSB: Analytic
AICPA: Measurement

17--;
inventories+

A 7ption A
$. 7ption $
C. 7ption C
%. 7ption %

AACSB: Analytic
AICPA: Measurement

inventories+

A. 7ption A
$. 7ption $
C 7ption C
%. 7ption %

AACSB: Analytic
AICPA: Measurement

17--1
&8. 'hich of the follo#ing accounts are deited #hen closing entries are made for the general
fund (assume outstanding encumrances lapse at *ear-end)+

A. I! II! III! AI.
$. I! II! IA.
C I! IA! A! AI.
%. III! IA! A.


-;. 4he general fund of the Cit* of Columia transferred mone* to estalish an internal
service fund for the cit*?s data processing needs. 4he general fund of Columia should
account for this transaction as a(n):
A. e:penditure.
! interfund transfer.
C. interfund reimursement.
%. loan.


-1. In a to#n?s general fund operating udget for the *ear! the amount of its estimated
revenues e:ceeded the amount of its appropriations. 4his e:cess should e:
A credited to $udgetar* Fund $alance-Unreserved.
$. deited to $udgetar* Fund $alance-Unreserved.
C. credited to Fund $alance-Unreserved.
%. deited to Fund $alance-Unreserved.


17--&
-&. 4he general fund of the 4o#n of %ean levied propert* ta:es of >-!;;;!;;; for the fiscal
*ear eginning on =anuar* 1! &;;5. It #as estimated that 1D of the lev* #ould e
uncollectile. %uring the period =anuar* 1! &;;5! through %ecemer -1! &;;5! >&!83;!;;; of
the propert* ta: lev* #as collected. At %ecemer -1! &;;5! %ean estimated that >1;!;;; of
propert* ta:es levied in &;;5 #ould e collected during the first 3; da*s of &;;8. 'hat
amount of propert* ta: revenue should e reported * the general fund for the *ear ended
%ecemer -1! &;;5+
A. >&!83;!;;;
$. >-!;;;!;;;
C >&!87;!;;;
%. >&!88;!;;;

AACSB: Analytic
AICPA: Measurement

--. 4he general fund of the Cit* of Atlanta received a checB for >1;!;;; from an Atlanta
resident on =ul* 1! &;;5. 7f the amount received! >1!5;; represented full pa*ment of propert*
ta:es for &;;5! and the remaining >2!&;; represented an advance pa*ment for propert* ta:es
of &;;8. 7n =ul* 1! &;;5! the general fund should record the receipt * deiting Cash for
>1;!;;; and * crediting
A. <evenue-.ropert* 4a: for >1;!;;;.
! .ropert* 4a:es <eceivale-Current for >1!5;; and %eferred <evenue for >2!&;;.
C. <evenue-.ropert* 4a: for >1!5;; and %eferred <evenue for >2!&;;.
%. .ropert* 4a:es <eceivale-Current for >1!5;; and <evenue- .ropert* 4a: for >2!&;;.

AACSB: Analytic

17---
-1. 4he general fund of Cald#ell had the follo#ing operating udget for the fiscal *ear
eginning =ul* 1! &;;8:

'hen the general fund records its operating udget on =ul* 1! &;;8! $udgetar* Fund $alance-
Unreserved should e
A credited for >3;;!;;;.
$. deited for >8;;!;;;.
C. deited for >3;;!;;;.
%. credited for >8;;!;;;.

AACSB: Analytic

-2. 4he general fund of <ichmond #as illed >&&!;;; on August 12! &;;5! for using the
services of one of its internal service funds (I/F). 'hat accounts should e deited and
credited! respectivel*! in the general fund on August 12! &;;5! to record this transaction+
A. E:penditures and 4ransfer 7ut to I/F
! E:penditures and %ue to I/F
C. Encumrances and %ue to I/F
%. Encumrances and 4ransfer 7ut to I/F


-3. 4he general fund of $attle CreeB udgeted a transfer to its capital pro0ects fund for
>11;!;;; to e used in operations during the *ear ended =une &;! &;;8. 7n /eptemer 12!
&;;5! the general fund transferred >11;!;;; to the capital pro0ects fund. 'hat account should
e deited in the general fund on /eptemer 12 to record this transfer+
A. Appropriations
$. E:penditures
C. $udgetar* Fund $alanceE<eserved For Encumrances
D 7ther Financing UsesE4ransfer 7ut to Capital .ro0ects Fund


17--1
-7. 4he general fund of /un Cit* #as illed >7!;;; for using the services of one of its internal
service funds. 4he general fund should account for this transaction as a(n)
A. interfund transfer.
$. interfund loan.
C interfund service.
%. interfund reimursement for services rendered.


-5. 4he general fund of Athens ordered computer e9uipment on %ecemer 1! &;;5! for
>-&!;;;. 4he order #as appropriatel* encumered on this date. Athens received the computer
e9uipment on =anuar* &2! &;;8! and issued a voucher to pa* the vendor >-&!1;;. Athens uses
the calendar *ear for reporting! and all outstanding encumrances lapse at *ear-end. Athens?
governing oard honors all outstanding encumrances * including them in the follo#ing
*ear?s appropriations. 7n =anuar* &2! &;;8! the general fund of Athens should deit:
A. Encumrances for >-&!;;;.
$. Fund $alance-<eserved for Encumrances for >-&!1;;.
C. E:penditures-&;;5 for >-&!1;;.
D E:penditures for >-&!1;;.

AACSB: Analytic

-8. 4he general fund of @oveland ordered a ne# fire trucB on ,ovemer 1&! &;;5! for
>12;!;;;. 4he order #as appropriatel* encumered on this date. @oveland received the fire
trucB on =anuar* 12! &;;8! and issued a voucher to the manufacturer for >115!3;;. @oveland
uses the calendar *ear for reporting! and outstanding encumrances at %ecemer -1! &;;5! are
lapsing. 7n =anuar* 12! &;;8! the general fund of @oveland should deit:
A. Fund $alance-<eserved for Encumrances for >115!3;;.
! E:penditures for >115!3;;.
C. E:penditures-&;;5 for >115!3;;.
%. Encumrances for >115!3;;.


17--2
1;. 'hich comination of fund and measurement asis is correct+

A. 7ption A
! 7ption $
C. 7ption C
%. 7ption %


11. 4he general fund of 'old 4o#nship ordered office furniture for the ma*or?s office on
August 1! &;;5. 4he office furniture #as estimated to cost >1&!;;;. 4he office furniture #as
received on /eptemer 1! &;;5! #ith the actual cost eing >11!5;;. 'hich of the follo#ing
accounts decreased on /eptemer 1! &;;5+
A. Encumrances onl*.
$. E:penditures onl*.
C Encumrances and $udgetar* Fund $alance-<eserved for Encumrances.
%. E:penditures and $udgetar* Fund $alance-<eserved for Encumrances.


1&. At the end of the fiscal *ear! uncollected propert* ta:es in the general fund should e:
A reclassified from current to delin9uent.
$. #ritten off as uncollectile.
C. charged against unreserved fund alance.
%. reclassified from current to noncurrent.


17--3
1-. 4he 4o#n of $aBer reported the follo#ing items on the =une -;! &;;8! alance sheet of its
general fund:

At =une -;! &;;8! #hat amount should e reported for Fund $alance-Unreserved+
A. >13!;;;
$. >1;!;;;
C >-;!;;;
%. >13!;;;

AACSB: Analytic
AICPA: Measurement

11. 'hich of the financial statements descried elo# is prepared * the general fund of a
state or local government+
A. A statement of cash flo#s.
$. An income statement.
C. A statement of revenues! e:penses! and changes in retained earnings.
D A statement of revenues! e:penditures! and changes in fund alance.


17--7
12. 'hich accounts descried elo# #ould have non-"ero alances after the accounts are
closed in the general fund of a state or local government+

A. I! II! III.
$. I! II! IA.
C IA! A! AI.
%. III! IA! A.


13. %ue to an error! the general fund of .uelo did not record an encumrance for police
e9uipment #hich had een ordered ut not received on =une -;! &;;8! the end of its fiscal
*ear. .uelo?s outstanding encumrances at *ear-end are nonlapsing. 'hat #as the effect of
this error on the alance sheet of .uelo?s general fund+
A. Assets are overstated.
$. @iailities are understated.
C. 4otal fund alance is overstated.
D Unreserved fund alance is overstated.


17. In a statement of revenues! e:penditures! and changes in fund alance! the unreserved
fund alance #ill e increased *:
I. a decrease in the fund alance reserved for inventories.
II. an e:cess of other financing sources over other financing uses.
A. I onl*
$. II onl*
C $oth I and II
%. ,either I nor II


17--5
15. Assuming there is a udget surplus! #hich of the follo#ing accounts are credited #hen the
general fund records its operating udget at the eginning of the *ear+
A Appropriations Control and $udgetar* Fund $alanceEUnreserved.
$. Estimated <evenues Control and Estimated <esidual E9uit* 4ransfer 7ut.
C. $udgetar* Fund $alanceE<eserved For Encumrances and E:penditures.
%. Estimated <esidual E9uit* 4ransfer 7ut and Estimated 4ransfer In.


18. <evenues from parBing meters and parBing fines should e reported in the general fund
#hen:
A received.
$. measurale and availale.
C. measurale and earned.
%. availale.


2;. 4he general fund of Gillette levied propert* ta:es of >1;;!;;; on ,ovemer 1! &;;5.
Co#ever! the propert* ta:es are not collectile until 6a* and August of &;;8. Assume
Gillette reports on the calendar *ear. 7n Gillette?s general fund alance sheet at %ecemer -1!
&;;5! the propert* ta:es levied on ,ovemer 1 should:
A. e reported as an asset and as a decrease in unreserved fund alance.
$. e reported as an asset and as an increase in unreserved fund alance.
C. e reported as an asset and as a reservation of fund alance.
D e reported as an asset and as a deferred revenue.


17--8
21. 'hich of the follo#ing items should not e included as revenue for a state government+
A. .ropert* ta:es levied in the current fiscal *ear.
$. .rivate propert* for #hich a state taBes custod* #hen the legal o#ner cannot e found.
C Amounts received from other financing sources.
%. Fines and licensing fees for #hich amounts cannot e udgeted.


2&. GA/$ -1 FAccounting for Financial <eporting for Certain Investments and for E:ternal
<eporting Investment .ools!F estalishes a general rule that government entities value
investments in option contracts! open-ended mutual funds! and det securities for alance
sheet presentation at:
A. lo#er of cost or marBet.
! fair value.
C. cost.
%. amorti"ed cost.


2-. All of the follo#ing funds have a financial resources measurement focus #ith the
e:ception of #hich fund+
A. det service fund
$. special revenue fund
C. capital pro0ects fund
D private-purpose trust fund


17-1;
21. 'hen an internal service fund (I/F) enters into a capital lease the transaction is recorded
in the:
I. fi:ed assets of the I/F.
II. long-term det of the I/F.
A. I onl*
$. II onl*
C $oth I and II
%. ,either I nor II


22. 'hich of the follo#ing items is not recogni"ed as revenue * a governmental unit+
A. sales ta: proceeds
$. propert* ta: levies
C ond proceeds
%. grants received from other governmental units


23. GA/$ -1 estalished four t*pes of interfund activities. Interfund activities are recogni"ed
as revenue in a governmental fund for an:

A 7ption A
$. 7ption $
C. 7ption C
%. 7ption %


17-11
27. 4he general ledger of $road#a* contains the follo#ing selected account alances:

$road#a* #ants to order additional goods and services efore the fiscal *ear end. 'hat is the
unencumered alance of the udget that ma* e e:pended * $road#a*+
A. >52;!;;;
$. >73;!;;;
C. >15;!;;;
D >1-;!;;;

AACSB: Analytic
AICPA: Measurement

25. At an* time! the remaining appropriating authorit* availale to the fund managers is e9ual
to:
A. Appropriations minus E:penditures
! Appropriations minus (Encumrances G E:penditures)
C. Appropriations minus (Encumrances - E:penditures)
%. Appropriations minus Encumrances


28. 'hich of the follo#ing oservations concerning interfund transfers is true+
A. 4he* are e:pected to e repaid.
$. 4he* are classified as fund revenues or e:penditures.
C. 4he receiving fund recogni"es these transfers as revenue.
D 4hese transfers are classified under F7ther Financing /ources or Uses.F


17-1&
3;. According to the latest GA/$ e:posure draft! #hich of the follo#ing is the onl*
governmental fund t*pe that ma* report an unassigned fund alance+
A General fund
%. .ermanent fund


31. 'hich governmental fund includes resources that are legall* restricted so that the
governmental entit* must maintain the principal and can use onl* the earnings from the fund?s
resources to enefit the government?s programs for all of its citi"ens+
A. General fund
D .ermanent fund


Essay Questions

3&. $riefl* discuss the various t*pes of governmental funds and proprietar* funds.
Five t*pes of governmental funds are used to provide asic governmental services to the
pulic. 4hese are: (1) general fund! (&) special revenue funds! (-) capital pro0ects funds! (1)
det service funds! and (2) permanent funds. 4he numer of governmental funds maintained
* the governmental entit* is ased on its legal and operating re9uirements. 4he five
governmental funds use the current financial resources measurement focus.
4he t#o t*pes of proprietar* funds t*picall* used * governmental entities are (3) enterprise
funds and (7) internal service funds. /ome activities of a governmental unit are similar to
those of commercial enterprises. 4he o0ective of the governmental unit is to recover its costs
in such operations through a s*stem of user charges. Accounting and reporting for a
proprietar* fund are similar to accounting for a commercial operation.

AACSB: Communication

17-1-
3-. %iscuss ma0or differences et#een a governmental entit*?s uses of the modified accrual
method and a for-profit corporation?s use of the accrual method.
4he modified accrual method of accounting is used to measure revenues that are availale to
finance current e:penditures and to measure the e:penditures made during the period. 4he
accrual method is used to measure the revenues and e:penses during a period #ith the
purpose of measuring profitailit*.

AICPA: Critical Thinking

17-11
31. 4he to#n of /to# #as incorporated and egan governmental operations on =ul* 1! &;;5.
/to#?s transactions and events for the fiscal *ear ended =une -;! &;;8! are listed elo#. /to#
uses the consumption method of accounting for purchases of supplies. Encumrances do not
lapse at *ear end.
<e9uired:
.repare the 0ournal entr* (ies) re9uired in the general fund for each of the follo#ing
transactions or events.
a. 4he to#n udget #as approved! providing for revenues of >5;;!;;;! a >1;!;;; transfer to
estalish an internal service fund (I/F)! and e:penditures of >72;!;;;.
. .ropert* ta:es #ere levied in the amount of >7;;!;;;! #ith 1 percent of the total estimated
to e uncollectile.
c. .urchase orders #ere issued in the amount of >8;!;;; for e9uipment! and >3-2!;;; for
other goods and services.
d. Collections for fines and licenses totaled >88!;;; for the *ear.
e. .ropert* ta:es collected amounted to >35;!;;;H the alance #as reclassified as delin9uent!
and the allo#ance for uncollectile ta:es #as reduced to >12!;;;.
f. 4he e9uipment ordered #as received! and a voucher #as issued for the final invoice cost of
>81!;;;.
g. All ut >1&!;;; of the other goods and services ordered #as received. Aouchers #ere issued
for the invoice cost of >3&&!;;;.
h. All ut >1;!;;; of the vouchers issued during the *ear #as paid.
i. A transfer in the amount of >1;!;;; #as made to estalish an internal service fund for the
to#n. 4he general fund received services of >7!;;; from the internal service fund during the
*ear! #ith >&!;;; remaining unpaid at *ear end.
0. E:penditures recorded for the *ear included the purchase of supplies. 4he estimated alance
of supplies on hand at *ear end #as >&!;;;.
B. A reserve #as estalished at *ear end for the outstanding encumrances! all of #hich #ill
e honored in the ne:t fiscal *ear.
l. Closing entries #ere made.
17-12

17-13

AACSB: Analytic
AICPA: Measurement

17-17
32. Accounting processes differ et#een a for-profit entit* and a governmental entit*. %iscuss
three differences et#een a governmental entit* and a for-profit entit*.
4he ma0or differences et#een a governmental entit* and a for-profit entit* include:
Governmental accounting must recogni"e that governmental units collect resources and
maBe e:penditures to fulfil societal needs.
E:cept for some proprietar* activities such as utilities! governmental entities do not have a
general profit motive.
Governmental operations have legal authori"ation for their e:istence! conduct revenue
raising through the po#er of ta:ation! and have mandated e:penditures the* must maBe to
provide their services.
Governmental entities use comprehensive udgetar* accounting! #hich services as a
significant control mechanism and provides the asis for comparing actual operations against
udgeted amounts.
4he primar* emphasis in governmental fund accounting is to measure and report on
management?s ste#ardship of the financial resources committed to the o0ectives of the
governmental unit.
Governmental entities t*picall* are re9uired to estalish separate funds to carr* out their
various missions.
6an* fund entities do not record fi:ed assets or long-term det in their funds.


17-15
33. 4he ad0usted trial alance for 'hite <iver for the fiscal *ear ended =une -;! &;;8! is
presented elo#.

<e9uired:
a. .repare a statement of revenues! e:penditures! and changed in fund alance for 'hite <iver
for the *ear ended =une -;! &;;8. Assume there #ere no supplies or outstanding
encumrances at the eginning of the *ear.
. .repare a alance sheet for 'hite <iver at =une -;! &;;8.
17-18
a)

)

17-2;
AACSB: Analytic
AICPA: Measurement

17-21

CH 17 Governmental Entities Introduction and General Fund Accounting

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CH 17 Governmental Entities Introduction and General Fund Accounting

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Chapter 17 - Governmental Entities: Introduction and General Fund Accounting

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