1. which of the following is true regarding proprietary fund accounting: The economic resources measurement focus and accrued accounting are used, capital assets are recorded in the accounts and depricated , both of the above, neither of the above read bottom section of page 157 are you sure it is not both
2. Which of the following is true regarding pension trust funds: The acturially computed pension benefit obligation is reported in the statement of fiduiciary net assets, while full accrued accounting is used the term addition and deduction are used in the statment of change fiduciary net asets in lieu of revenues and expense, both of the above, neither of the above.
3 which of the following must be done to convert modified accrual basis to accrual basis: record capital assets, change expenditures for debt service principal to reduction of liabilities, make adjustment to revenue to convert to the accrual basis of revenue recognition, all of the above
4. which of the following situations would probably not result in an asset impairment: A city warehouse is damaged by fire, recently purchased city owned voting booths are rendered obsolete by a federal law requiring a new technology, ridership on city buses declines, constuction on a municipal sports complex stops when the city's major league baseball team moves to another city.