Question

Below is a list of various governmental accounting terms and concepts. Match the letter next to the choices in the space provided below. There is only one choice per item.

a. Debt Services Fund
b. Intra-period Equity
c. Encumbrances
d. Imposed Non-exchange Revenue e. Fiscal Accountability

f. Internal Services Fund
g. Enterprise Fund
h. Agency Fund
i. Statement of Revenues, Expenditures and Changes in Fund Balances j. Statement of Net Position

k. General Revenues
l. Balance Sheet
m. Operational Accountability n. Depreciation
o. Program Revenues
p. Expenditure
q. Modified Accrual

USE CAPITAL LETTERS BELOW:

1. _____. The government receives value without proportionate value in return.

2. _____. Unrestricted grants and contributions are reported as this type of revenue.

3. _____. A governmental fund.

4. _____. The government has sufficient revenues in the current period to offset current costs of the period.

5. _____. Insuring that all funds are used in accordance with laws and regulations.
6. _____. Occurs in the transaction sequence prior to the recording of an expenditure. 7. _____. Assets = Liabilities.
8. _____. Other financing sources are reported on this financial statement.
9. _____. A government-wide financial statement.
10. _____. A type of fund that accounts for business-type activities.

Answer 1

The government receives value without proportionate value in return Intra-period Equit Unrestricted grants and contributions are reported as this type of revenue A governmental fund The government has sufficient revenues in the current period to offset current costs of the period Insuring that all funds are used in accordance with laws and regulations Occurs in the transaction sequence prior to the recording of an expenditure Assets Liabilities Program Revenue Debt Services Fund 4 Fiscal Accountabilit Operational Accountabilit Encumbrances Balance Sheet Statement of Revenues, Expenditures and Changes in Fund Balances Statement of Net Position Enterprise Fund Other financing sources are reported on this financial statement. A government-wide financial statement 10 A type of fund that accounts for business-type activities