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58. Special entities are not-for-profit organizations that are: A) either government owned or privately owned...

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Accounting

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58. Special entities are not-for-profit organizations that are: A) either government owned or privately owned B) government owned. C) privately owned D) publicly owned 59. The liability for general obligation long-term debt is reported in the: A) B) C) D) Enterprise Fund. Debt Service Fund. Capital Projects Fund. None of these. 60. Encumbrances would NOT appear in which fund? A) Capital projects B) Special revenue C) Enterprise D) General 61. The two basic statements prepared for expendable fund entities are a balance sheet and a(n) A) statement of expenditures and encumbrances. B) income statement. C) statement of revenue. D) none of these. 62. Which of the following groups of not-for-profit entities must use fund accounting to be in conformity with GAAP? A) Govermmental, Yes;Nongovernmental, No B) Governmental, No; Nongovernmental, No C) Governmental, Yes; Nongovernmental, Yes D) Governmental, No; Nongovernmental, Yes 63. The entry to close appropriations, expenditures, and encumbrances accounts includes a debit to: A) Expenditures. B) Both Appropriations and Encumbrances. C) Appropriations D) Encumbrances

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