PUBLIC FINANCE & TAXATION

1-12-Which of the following tax rate structure have advantage of the Equality in sacrifice

Progressive tax system

PUBLIC ACCOUNTING

1-14-A transaction in which a government issued general obligation to finance the construction of a
new military camp would

The correct answer is: Increase in fund balance of debt service fund
2-21- In fund-based financial statements, the proceeds from bond issuance are credited to: The correct answer is: Other financing sources

3-30 Which of the following fiduciary funds would account for an endowment (i.e., the principal must remain intact)? The correct answer
is: Private-purpose trust fund.

AUDITING

1-24-The use of pre-numbered checks in disbursing cash is an application of the principle of:

The correct answer is: Documentation procedures