Under GASB 34,enterprise Funds Must Be Used

question 65

Multiple Choice

Under GASB 34,enterprise funds must be used:

• A) When debt is backed solely by fees and charges.
• B) When a legal requirement exists that the cost of providing services for activity, including capital costs, be recovered through fees or charges.
• C) When a government has a policy to establish fees and charges to cover the cost of providing services for an activity.
• D) All of the above.

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Definitions:

Ascocarp

An ascocarp is the fruiting body of ascomycete fungi, which contains ascus or sacs where spores are produced.

Truffles

A type of highly valued edible underground mushroom that grows in mutual symbiosis with tree roots.

Chytrids

A group of primitive fungi found in water and soil, characterized by producing motile spores.

Eukaryotic Supergroups

Major categories used to classify the diversity of eukaryotic organisms, based on genetic and morphological characteristics.