Identify the Fund Type of the Fund Being Described

question 4

Essay

Identify the fund type of the fund being described.
1.A fund used to account for the external portion of investment pools reported by the sponsoring government.
2.A fund used to account for resources that are legally restricted to use of the earnings only for government programs or activities.
3.A fund used to account for resources used to pay for a new stadium.
4.A fund used to account for local taxes withheld on behalf of another county.
5.A fund used to account for resources used to pay interest on a long-term bond issue.
6.A fund used to account for specific revenues that are restricted in use.
7.A fund used to account for the local swimming pool that is owned by the city and used by residents for a membership fee.
8.A fund used to account for the centralized data processing services of the state government.
9.A fund used to account for all funds except those required to be accounted for in another fund.
10.A fund that accounts for government pension plans if the government is the trustee.

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Definitions:

Locus of Control

A person's belief about the extent to which their outcomes are due to their own actions versus external forces.

Internal Control

Processes and procedures implemented by an organization to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

External Control

Refers to the belief that one's behavior and outcomes are influenced or dictated by external forces beyond one's personal control.

Interactional Psychology

The psychological approach to understanding human behavior that involves knowing something about the person and about the situation.