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1. The concept of accountability doesn't refer to: a. Accountability is the foundation of federal government financial reporting. b. Accountability is secondary to all financial

1. The concept of accountability doesn't refer to: a. Accountability is the foundation of federal government financial reporting. b. Accountability is secondary to all financial reporting in government. c. Accountability arises from citizens' "right to know". d. Accountability imposes a duty on public officials to be accountable to citizens for raising public monies and how they are spent. 2. One characteristic that distinguishes other financing sources from revenues is that other financing sources: a. Provide financial resources for the recipient fund. b. Increase fund balance when they are closed at year-end. c. Have a normal credit balance. d. Arise from debt issuances or inter-fund transfers in. 3. Assets and liabilities of activities for which the government is acting as an agent for individuals, organizations, or other governments should be reported in: a. The fiduciary fund financial statements. b. The fiduciary column of the government-wide financial statements. c. Both government-wide and fiduciary fund statements. d. Neither government-wide nor fiduciary fund statements. 4. Which of the following is excluded in the minimum requirements for general purpose external financial reporting of a government? a. Management's Discussion and Analysis. b. Comprehensive Annual Financial Report. c. Basic financial statements. d. None of the above. 5. In the reporting of governmental activities, fiscal accountability is demonstrated by: a. Government-wide financial statements. b. Fund financial statements. c. Both fund and government-wide financial statements. d. Neither fund nor government-wide financial statements. 1 6. Which of the following organizations would most likely meet the criteria to be classified as a non-governmental not-for-profit organization? a. A public school district. b. A privately founded museum. c. A religion-affiliated university. d. A city-administered community service agency. 7. Under the accrual basis of accounting, expenses generally are not recognized until: a. An obligation is incurred that will be paid from currently available financial resources. b. They are paid in cash. c. Goods or services are ordered. d. They are approved by the legislative body. 8. Which of the following either increases or decreases fund balance of the General Fund during the current period? a. Other financing uses. b. Expenses c. Deferred revenues. d. Expenditures. 9. The accrual basis of accounting is used to account for revenues and expenditures reported in the financial statements of: a. Governmental activities at the government-wide level. b. Business-type activities at the government-wide level. c. Proprietary funds. d. All the above. 7. The measurement focus and basis of accounting that should be used for the governmental fund financial statements are: Measurement Focus a. Current financial resources b. Current financial resources c. Economic resources d. Economic resources Basis of Accounting Modified accrual Accrual Modified accrua

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