Questions from Accounting for Government and Non-Profit

Q: Choose the best answer. 1. Which of the following

Choose the best answer. 1. Which of the following would not be considered a general long-term liability? a. T he estimated liability to clean up the hazardous waste storage sites of the cityâ
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Q: Choose the best answer. 1. Within the government-

Choose the best answer. 1. Within the government-wide financial statements, the column for Business-type Activities will generally include: a. Internal service funds only. b. Enterprise funds only. c....

Q: Utilizing the annual report obtained for Exercise 1–16, follow

Utilizing the annual report obtained for Exercise 1–16, follow these instructions: a. Agency Funds. Does the government operate a tax agency fund or participate in a tax agency fund operated by anothe...

Q: Choose the best answer. 1. Which of the following

Choose the best answer. 1. Which of the following is not a fiduciary fund? a. Permanent fund. b. Private-purpose trust fund. c. Investment trust fund. d. Agency fund. 2. Which of the following is an e...

Q: Choose the best answer. 1. Which of the following

Choose the best answer. 1. Which of the following financial statements is prepared by fiduciary funds? a. Statement of activities. b. Statement of net position. c. Statement of cash flows. d. All of t...

Q: Using GP for general purpose government or SP for special purpose government

Using GP for general purpose government or SP for special purpose government, identify the following governments by type. a. Stonington Village. b. Lynnford Regional Library District. c. Hillsborough...

Q: In reading Appendix A of this chapter, you may have been

In reading Appendix A of this chapter, you may have been struck by the fact that many governmental accounting information (GAI) software systems appear to be incapable of handling the full reporting r...

Q: Indicate whether the following revenues should be classified as program revenues or

Indicate whether the following revenues should be classified as program revenues or general revenues on the government-wide statement of activities. a. Unrestricted operating grants that can be used a...

Q: Explain the meaning and significance of inter period equity .

Explain the meaning and significance of inter period equity .

Q: Indicate whether each of the following expenditure items should be classified as

Indicate whether each of the following expenditure items should be classified as a function, program, organization unit, activity, character, or object. a. Mayor’s Office. b. Public Safety. c. Residen...