Five trucks were leased by Pleasantville under terms qualifying as a capital lease. These trucks are to be used by the fire department. Where would the capital lease transaction be recorded?  (Points : 2)
Internal service fund.
Special revenue fund.
Plant and equipment fund.
Governmental activities.

22. On June 1, 2012, Brooktown levied special assessments in the amount of $500,000, payable in 10 equal annual installments beginning on June 30, 2012. The assessment installments are intended to pay principal and interest on special assessment bonds for which the town has pledged its full faith and credit should assessments be insufficient. Assuming no allowance for uncollectible receivables, the journal entry in the debt service fund on June 1, 2012 would include:  (Points : 2)
A debit to Assessments Receivable-Current for $500,000.
A debit to Assessments Receivable-Current for $50,000.
A credit to Revenues for $500,000.
No journal entry is made in the debt service fund because special assessments are used.

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23. In 2011, Weaver City signed a contract in the amount of $6,000,000 for the construction of a new city hall. Expenditures were $4,000,000 in 2011 and $2,050,000 in 2012, which included a change to the original construction design in the amount of $50,000. What amount should be added to net capital assets in the governmental activities accounts in 2012?  (Points : 2)

24. The accrual basis of accounting applicable to proprietary fund types requires that exchange revenues be recognized when  (Points : 2)
Collected in cash.
Authorized by the budget ordinance.
Measurable and available.

25. The expenditure classification “City Attorney” is an example of which of the following types of classification?  (Points : 2)
Organization unit.

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