CPA Questions

Which of the following activities should be excluded when governmental fund financial statements are converted to government-wide financial statements?

• Enterprise Activity

• Proprietary Activities

• Government Activities

• Fiduciary Activities

Proprietary Funds can be split into Internal Service Funds and __________ funds.

Which of the following is an example of an enterprise fund? (may be more than one right answer)

• Truist Park Construction Fund (used to help finance construction of Truist Park)

• Cobb Performing Arts Centre Fund (collects funds from use of CPAC)

• Cobb County Pension Fund (to administer the pension program for the County's retirement system)

• Water and Sewer Fund (collects water bill revenue for city)

Cobb County creating a fund specifically for activity related to the owning and operation of the Marietta Square Parking Decks would be considered a special _________ fund, which is part of the government funds.

Which of the following is included in Governmental Funds?

• General Fund

• Custodial Funds

• Debt Service Funds

• A & C Only

• All of the Above

True or False: The Pension Fund of Cobb County is administered through a fiduciary fund of the Cobb County Government

• True

• False