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ACC 380 ACC380 Week 2 Quiz

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ACC 380 Week 2 Quiz

  1. General fixed assets that are required with governmental fund resources are reported as assets in the:
  2. If taxes are levied specifically for payment of interest and principal on long-term debt, those taxes are:

  3. When a purchase order is issued under a Capital Projects fund, how should the transaction be recorded?

  4. What is a Special Revenue Fund?

  5. Expenditures are generally recorded and fund liabilities are recognized

  6. Under the modified accrual basis of accounting, GASB standards for property tax revenue recognition provide that revenue should not be recognized for property taxes collected:

  7. When would a special revenue fund be deemed to have satisfied the eligibility 
    requirement of a reimbursement-type federal grant, under GASB Statement 33?

  8. If taxes are levied specifically for payment of interest and principal on long-term debt, those taxes are:

  9. How would the government account for the unused bond proceeds?

  10. Which of the following lease criteria would not qualify a lease as a capital lease?

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