Acc 496 Chapter 7

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Washtenaw Community College *

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Economics

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Feb 20, 2024

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Homework chapter 2 1 6 Example Fund a. Construction of public buildings. Capital projectsselected answer correct b. Costs of a central purchasing and warehouse function. Internal serviceselected answer correct c. Gifts in which the principal must be invested and preserved, while the investment earnings must be used to provide scholarships to children of police officers who died in the line of duty. Private-purpose trustselected answer correct d. Administrative expenses of the city manager’s office. Generalselected answer correct e. Assets held for external government participants in the government’s investment pool for the purpose of earning investment income. Investment trustselected answer correct f. Gifts in which the principal must be invested and preserved but the investment earnings can be used for public purposes. Permanentselected answer correct g. Costs of operating a municipal swimming pool. Enterpriseselected answer correct h. Taxes collected on behalf of another government unit. Custodialselected answer correct i. Assets held in trust to provide retirement benefits for municipal workers. Pension (and other employee benefit) trustselected answer correct j. Principal and interest payments on general long-term debt. Debt serviceselected answer correct k. Grant revenues restricted for particular operating purposes. Special revenueselected answer correct 17.

Homework chapter 2

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