ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
18th Edition
ISBN: 9781307515596
Author: RECK
Publisher: MCG/CREATE
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Chapter 5, Problem 17.4EP

A capital projects fund would probably not be used for which of the following assets?

  1. a.      Construction and installation of new shelving in the mayor’s office.
  2. b.      Financing and construction of three new fire substations.
  3. c.       Purchase and installation of an entity-wide integrated computer system (such as SAP).
  4. d.      Replacing a bridge.
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Incurring construction costs on a major general government capital project would .a Increase capital assets in the General .Fund .b Increase capital assets in a Capital .Projects Fund .C Decrease cash in the General Capital .Assets accounts .d Decrease fund balance in a Capital .Projects Fund
River City needs to raise money to build a bridge. Designing the bridge and constructing it will require a long-term investment of funds. What source of financing would be representative of such a long-term funding requirement?   Multiple Choice   commercial paper   issuance of bonds   line of credit   factoring
The police department of the city of Elizabeth acquires a new police car during the current year. In reporting the balance sheet for the governmental funds within the fund-based financial statements, what reporting ismade of this police car?a. It is reported as a police car at its cost.b. It is reported as a police car at cost less accumulated depreciation.c. It is reported as equipment at fair value.d. It is not reported.
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