Question1: A government need not necessarily account for an activity in an enterprise fund even though it;
[A] Is required by law or policy to recover the cost of the activity by fees
[B] Opts to establish pricing policies so as to recover its costs, including capital costs
[C] Charges fees for the activity and those fees are material in amount
[D] Finances the activity solely with revenue debt
Question2: Except for FASB pronouncements that have been overridden by specific GASB pronouncements, in their enterprise funds governments must;
[A] Apply all FASB pronouncements issued subsequent to November 30, 1989
[B] Apply all FASB pronouncements issued prior to November 30, 1989, and governments may apply pronouncements of their choosing issued after that date
[C] Apply all FASB pronouncements, irrespective of when issued
[D] Apply all FASB pronouncements issued prior to November 30, 1989, and apply either all or none of the pronouncements issued after that date
Question3: Tap fees that exceed the cost of hooking customers into the utility should be accounted for as;
[A] A combination of capital contributions and ordinary revenues
[B] Extraordinary items
[C] Capital contributions
[D] Ordinary revenues
Question4: Landfill closure and post-closure costs should be recognized as expenses;
[A] In the periods that the landfill is in operation
[B] In the period in which the landfill is opened
[C] In the periods incurred
[D] In the period that the landfill is closed