F9 - M5 - Governmental Funds Financial Statements: Part 1 Flashcards
1
Q
There is only ______ general fund in a particular governmental entity.
A
one
2
Q
The ________ accounts for activities of a government that are not accounted for by any other fund.
A
general fund
3
Q
__________ contain funds “earmarked” for particular purposes.
A
Special revenue funds
4
Q
Special revenue funds are typically _____ or _______ to specific purposes other than debt service or capital projects.
A
restricted or committed
5
Q
____________ pay for the principal and interest related to general obligation debt.
A
Debt service funds (DSF)
6
Q
_______________ are most frequently transfers from other funds but may be taxes or even debt proceeds in the case of a refinancing.
A
Financing sources for debt service funds
