Question 1 (4 points) All of the following are purposes of government financial reporting except: Question 1 options: A) Determine the overall profitability of the
Question 1(4 points)
All of the following are purposes of government financial reporting except:
Question 1 options: A) | Determine the overall profitability of the government entity | |
B) | Evaluate efficiency and effectiveness | |
C) | Determine compliance with laws and regulations | |
D) | Compare actual results with the budget | |
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Question 2(4 points)
The type of government statement that consolidates all operations on a full accrual basis are the:
Question 2 options: A) | Fund financial statements | |
B) | Statement of Retained Earnings | |
C) | Government-wide statements | |
D) | Profit and Loss Statement | |
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Question 3(4 points)
Which of the following is not a fund type used in governmental accounting:
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Question 4(4 points)
A type of governmental fund that accounts for resources for which the governmental units acts of trustee or agent is a:
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Question 5(4 points)
An intergovernmental transfer of funds is recorded as ____________ if received prior to time period of use or collection will not generate resources available for use in current year.
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Question 6(4 points)
Types of expenditures for a government entity include all of the following except:
Question 6 options: |
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C) | Purchase of fixed assets | |
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Question 7(4 points)
The types of journal entries encountered in government accounting include all of the following except:
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Question 8(4 points)
A governmental fund balance that represents potential uses of resources planned for suture period is referred to as:
Question 8 options: A) | Unreserved Undesignated | |
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Question 9(4 points)
A type of governmental fund used to account for nonexpendable trusts where the earnings, but not the principal, are used to support government activities and programs is a:
Question 9 options: |
B) | Unreserved undesignated fund | |
C) | Unreserved designated fund | |
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Question 10(4 points)
A type of governmental used to account for operations financed and or operated like a business is a(an):
Question 10 options: