Financial statement analysis homework!
jafr_1
fsa_5_q.docxTest Information
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Description |
This assignment covers Chapter 6 and is due by Wednesday, October 16 It uses the 2014 CAFR from the City of Pittsburgh found at www.pittsburghpa.gov This assignment includes 10 questions. |
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Instructions |
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Multiple Attempts |
Not allowed. This test can only be taken once. |
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Force Completion |
You can exit and return to this test in the event of a technical problem only. However, you must complete this test within the timeframe set by the instructor. You will see the remaining time once you begin. |
Question Completion Status:
QUESTION 1
1. At the end of 2014, how much more can the city legally borrow (in thousands)?
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$780,248 |
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$341,154 |
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$1,121,402 |
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$448,561 |
1 points
QUESTION 2
1. Many entities tax the property of city residents. The largest source of debt burden to the city residents comes from which entity?
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Pittsburgh School District |
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Allegheny County |
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Cannot be determined from the CAFR. |
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Pittsburgh Water & Sewer Authority |
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City of Pittsburgh direct debt |
1 points
QUESTION 3
1. The largest source of financing for the Debt Service Funds comes from:
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Interest and Dividends |
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Refunding |
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Intergovernmental revenues |
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Transfers from other funds. |
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Taxes |
1 points
QUESTION 4
1. What amount of total long-term liabilities is classified as current in the governmental activities?
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There are no long-term liabilities classified as current in the governmental activities. |
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$61,135,000 |
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$143,442,298 |
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$61,923,067 |
1 points
QUESTION 5
1. Using the schedule showing changes in debt, which statement best describes the amount of Council and Public Election General Obligation Debt sold and retired during the year.
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The city retired general obligation bonds but did not issue any. |
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The city issued general obligation bonds but did not retire any. |
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The city retired more general obligation bonds than it issued. |
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The city issued more general obligation bonds than it retired. |
1 points
QUESTION 6
1. The notes to the financial statements indicates the city has exposure to which of the following types of risk associated with its debt service and other governmental fund investments? (Check all that apply)
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Credit risk |
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Interest rate risk |
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Custodial credit risk |
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Concentration risk |
1 points
QUESTION 7
1. When the city amortizes the premium on bonds issued it will
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Decrease both interest expenditures and interest expense |
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Increase both interest expenditures and interest expense |
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Decrease interest expenditures |
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Increase interest expenditures |
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Decrease interest expense |
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Increase interest expense |
1 points
QUESTION 8
1. Fund balances in the city's Debt Service Funds are classified as (mark all that apply):
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Nonspendable fund balance |
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Assigned fund balance |
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Committed fund balace |
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Unassigned fund balance |
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Restricted fund balance |
1 points
QUESTION 9
1. Which of the following resource inflows would properly be classified as revenue of a debt service fund? (check all that apply)
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Special assessment taxes (government is liable for the obligation). |
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Accrual of interest earned, but not yet received on investments of the debt service fund. |
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Receipt of the premium on a new bond issue. |
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Taxes collected by the General Fund and transferred to the Debt service fund. |
1 points
QUESTION 10
1. Which of the following statements best describes the use of premiums on bonds issued by the city in the current year.
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Some premiums were used by the Capital Projects funds but others were required to be used for principal and/or interest. |
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All the premiums were usable by the Capital Projects fund. |
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None of the premiums were usable by the Capital Projects fund. |
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Premiums were deposited in the Capital Projects funds and then transferred to the debt service funds. |
S
ave and Submit
