A City Operates a Central Data Processing Facility

question 2

Multiple Choice

A city operates a central data processing facility. The expenses of this facility would be accounted for using

• A) The general fund.
• B) An enterprise fund.
• C) A capital projects fund.
• D) An agency fund.
• E) An internal service fund.

Identify the fees associated with mutual fund investments, including management fees, load fees, and 12b-1 fees.

Calculate the impact of fees on mutual fund investments and understand the concept of load and no-load funds.

Recognize the benefits of mutual funds in retirement accounts and the ability to switch investments in a family of funds concept.

Understand the categories of corporate social responsibility (CSR) approaches and be able to identify them in real business scenarios.

---

Definitions:

Inventory Records

Documentation that tracks the quantity, purchase costs, and sale prices of products available for sale, crucial for accurate inventory management and financial reporting.

Periodic Inventory

An inventory system where the inventory level is updated at specific intervals.

Ending Inventory

Ending inventory is the total value of inventory still on hand at the end of an accounting period, calculated by adding new purchases to beginning inventory and subtracting the goods sold.

LIFO

Last In, First Out (LIFO) is an inventory valuation method which assumes that the most recently produced items are the first to be sold.