F10 - M5 - Fund Financial Statements

Question 1

Fund financial statements require establishing the criteria for major funds. There are two criteria

Answer 1

10 percent of GRaSPP funds or enterprise funds and 5 percent of GRaSPP funds and enterprise funds) that must be met for a fund to be considered major.

Question 2

The ________ is always major, and _______ funds are excluded from major fund consideration.

Answer 2

general fund; internal service

Question 3

For Proprietary Funds cash flow statement the ________- method is required

Answer 3

Direct

Question 4

For Proprietary Funds - A reconciliation ________________ by operating activities
is required.

Answer 4

operating income (not net income) to net cash provided

Question 5

What are the four categories for Statement of Cash flow for Proprietary Funds

Answer 5

operating activities, capital and related financing activities, noncapital financing activities, and investing activities.

Question 6

Financing activities are reported before ______ activities

Answer 6

investing activities.

Question 7

Interest income is an ______ activity for proprietary fund cash flow statement.

Answer 7

investing

Question 8

On Proprietary fund cash flow statement, _______ expense is reported in capital and related financing activities or noncapital financing activities.

Answer 8

Interest

Question 9

Interest expense is reported in _________ or _____________ on proprietary fund cash flow statement.

Answer 9

capital and related financing activities; noncapital financing activities.

Question 10

On Proprietary fund cash flow statement, Capital asset purchases are ________ activities.

Answer 10

financing

Question 11

Fiduciary funds are required to report net position as the difference between ___________

Answer 11

difference between assets plus deferred outflows of resources and liabilities plus deferred inflows of resources.