Q13:

Organizations are governmental if they posses one or more of the following characteristics except?

a.

Operate for purpose other than to provide goods and services at a profit

b.

Their officers are popularly elected

c.

Controlling majority of their governing body is appointed or approved by governmental officials

d.

They issue debt whose interest is exempt from federal tax

Q14:

The purpose of the modified accrual basis of accounting is to measure the flows of current financial resources in governmental fund financial statements for spending control.

a.

TRUE

b.

FALSE