What is the primary reason government entities use funds for financial reporting? How are funds established?
Question:
What is the primary reason government entities use funds for financial reporting? How are funds established?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
Governmental accounting systems must provide both reporting in ac...View the full answer
Answered By
BASANT SHARMA
I am done master's in Physics from a well-recognized institute in India name MNIT Jaipur. And now I am doing some preparation for entrance in Ph.D. (Doctoral). During the study, I tutor students of class 8th to 12th grade.
Now I am also working in Chegg Pvt Ltd as a Q&A expert in physics. I have given around 1300 question's answers on the Chegg platform. Also, I am working as a contractor of the content writer (Physics, Maths, science) in the Study.com platform. I have completed around 100 projects on this platform. I consider that this is a good job for me. so I am here.
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
Question Posted:
Students also viewed these Business questions
-
What is the primary reason that a company would declare a stock split?
-
What is the primary objective of financial reporting?
-
What is the primary objective of financial reporting under IFRS?
-
1:When developing a marketing strategy for business customers, it is essential to understand the process the business goes through when making a buying decision. Knowledge of business buying behavior...
-
A point charge Q = +87.1 (C is held fixed at the origin. A second point charge, with mass m = 0.0576 kg and charge q = -2.87 (C, is placed at the location (0.323 m, 0). (a) Find the electric...
-
The estimated cost for a multitube cyclone system with a capacity of 60,000 cubic feet per minute is $450,000. (a) If the $200,000 actual cost for a 35,000 cubic feet per minute system was used in...
-
A business starts its year with 800 in a provision for doubtful debts. At the end of the year, receivables total 12,000 of which 600 are considered doubtful. What is the effect on the income...
-
The daily demand for Ironcoat paint at the Top Value Hardware Store in North Bay is normally distributed, with a mean of 30 gallons and a standard deviation of 10 gallons. The lead time for receiving...
-
Theorem 3.6.3. If A E Matmxn and 0 = ER" then A.0=0Rm. Proof. 0=-(A 0)+A 0thm.3.2.5A (-0)+A (0) thm.3.2.5A (-0+ 0) = A.0. Definition 3.6.4. The kernel of a matrix A is the set ker(A) = {v |A. v=0}....
-
Required information Exercise 6-4A Calculate inventory amounts when costs are rising (LO6-3) [The following information applies to the questions displayed below.] During the year, TRC Corporation has...
-
What are the three categories of funds prescribed by GASB standards and which fund types are included in each? Which basis of accounting is used by each category?
-
The financial statements of the Town of Fordville consist of a statement of cash receipts and a statement of cash disbursements prepared by the town treasurer for each of its three funds: the General...
-
In Problem write the resulting set using the listing method. {1, 2, 3, 4} {2, 3, 4, 5}
-
The operations of a manufacturing / assembly line to produce 1500 units per 8-hour shift has been balanced. See below. During the 8-hour shift just 30 minutes is allowed for break times. The current...
-
Given: Type of Equipment: Office furniture Purchase price = $3000 Useful life 10 years Estimated salvage value $200 What would be the first year's depreciation if Straight line depreciation is used?
-
Define and explain the growth phases of fatigue cracks in aircraft. Provide examples.
-
Revenue$ 4 5 0 0 Variable non manufacturing$ 9 0 0 Variable Manufacturing Costs$ 8 1 0 Fixed manufacturing costs 6 3 0 Fixed nonmanufacturing$ 5 4 5 Compute gross margin?
-
https://www.youtube.com/watch?v=O3u5ecXqV_c What have you learned from the course so far? How can you apply the learning to your personal and professional life? From the video make a list of the...
-
Bangles Corporation issued 5-year, 11% bonds with a face value of $300,000 on April 1, 2019, for $288,000. Interest is paid semiannually at October 1 and April 1. Prepare the journal entries to...
-
Use translations to graph f. f(x) = x-/2 +1
-
A local not-for-profit organization that provides shelter for the homeless favors proposed legislation in the state that would facilitate converting an old hotel into a transitional living facility....
-
Using Illustration 153 as a guide, indicate under which Internal Revenue Code section each of the following public charities is most likely to be exempt from federal income tax. a. Ottowa County...
-
What are the distinguishing characteristics between a public charity and a private foundation? Why do these differences result in different federal reporting requirements?
-
Following is information on two alternative investment projects being considered by Tiger Company. The company requires a 7% return from its investments. (PV of $1, FV of $1, PVA of $1, and FVA of...
-
5 23 Which of the following events would generally NOT require a company to record a current liability? Multiple Choice Assessment of Income Tax Expense at year-end. Sale of product to a customer,...
-
Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold...
Study smarter with the SolutionInn App