Which of the following is true regarding the governmental fu…

Which of the following is true regarding the governmental fund financial statements? A. The governmental fund financial statements include the Balance Sheet and the Statement of Revenues, Expenditures, and Changes in Fund Balances. B. The governmental fund financial statements include the Balance Sheet and the Statement of Revenues, Expenditures, and Changes in Fund Balances. C. Both of the above. D. Neither of the above.

Which of the following best describes the recommended format…

Which of the following best describes the recommended format for the government-wide statement of activities? A. Program revenues minus expenses minus other revenues and expenses equals change in net position. B. Program revenues plus general revenues minus expenses equals change in net position. C. Program revenues minus expenses plus general revenues equals change in net position. D. Expenses minus program revenues plus general revenues equals change in net position.

 The City of Aurora increased its revenue budget by $75,000…

 The City of Aurora increased its revenue budget by $75,000 and the appropriation for the Public Works Department was increased by $100,000.  What is the journal entry to record this event in the General Fund? A. Estimated Revenues         75,000      Fund Balance-unassigned  25,000                     Appropriations            l             100,000 B. Appropriations                 100,000            Estimated Revenues                                              75,000            Budgetary Fund Balance                                         25,000 C. Estimated Revenues              75,000      Budgetary Fund Balance       25,000        Appropriations                                                           100,000 D. Estimated Revenues              75,000                          Appropriations                                        75,000