GFOA Exam CPFO Topic 7 Question 72 Discussion

Actual exam question for GFOA's CPFO exam

Question #: 72
Topic #: 7

[All CPFO Questions]

Enterprise funds and internal service funds are the two types of ______________.

ADebt Service Funds

BProprietary Funds

CPermanent Funds

DCapital project Funds

Show Suggested Answer

Suggested Answer: A

by Chanel at Jul 26, 2023, 02:46 PM

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Tamesha

3 months ago

I feel like the answer should be something more exciting, like 'Magical Funds' or 'Unicorn Funds'. But alas, B) Proprietary Funds is the boring-yet-correct response.

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Chana

2 months ago

At least we can pretend they're magical funds in our imagination!

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Kaitlyn

2 months ago

Yeah, but I guess we have to stick with the boring options like Proprietary Funds.

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Malcolm

2 months ago

I know what you mean, 'Magical Funds' would definitely make accounting more interesting.

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Stefan

4 months ago

B) Proprietary Funds, easy peasy. Now, if only the rest of the exam was this straightforward...

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Quinn

2 months ago

Yeah, I agree. Capital project funds can be confusing too.

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Karol

2 months ago

Debt Service Funds are a bit trickier to understand.

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Malcolm

2 months ago

I wish the rest of the exam was as easy as this question.

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Celestine

2 months ago

I know right, proprietary funds are pretty straightforward.

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Suzi

2 months ago

Yeah, I'm glad we got this question right. Let's keep it up for the rest of the exam.

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Hyun

3 months ago

Debt Service Funds and Proprietary Funds are the two types of funds mentioned.

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Ernie

3 months ago

I wish the rest of the exam was as easy as this question.

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Nikita

3 months ago

I know right, proprietary funds are pretty straightforward.

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Billye

4 months ago

Hmm, I was torn between B) Proprietary Funds and C) Permanent Funds, but B) is the right choice. Gotta love those tricky governmental accounting questions!

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Ettie

4 months ago

I was a bit unsure, but B) Proprietary Funds is the correct answer. It's an important distinction to remember for the exam.

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Antione

3 months ago

Yes, that's correct. It's important to differentiate between the two types for the exam.

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Nathan

3 months ago

I think it's B) Proprietary Funds too.

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Leila

4 months ago

Definitely B) Proprietary Funds. Internal service funds and enterprise funds are the two main types of proprietary funds in governmental accounting.

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Leah

4 months ago

Actually, enterprise funds and internal service funds are considered Proprietary Funds because they are used to account for activities that operate like businesses.

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Romana

4 months ago

I think it's Debt Service Funds.

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Leah

4 months ago

Enterprise funds and internal service funds are the two types of Proprietary Funds.

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