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Governmental Accounting Chapter 8 questions - & right answers

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Governmental Accounting Chapter 8 questions - & right answers

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Governmental Accounting Chapter 8
questions - & right answers

Revenues in a DSF are recognized when

A. They are collected in cash

B. They are measurable and available

C. They are measurable and earned

D. DSF payments are due ANS - B. They are measurable and available



What measurement focus toes a DSF use?

A. Full Accrual

B. Current Financial resources

C. Economic financial resources

D. Cash resources ANS - B. Current Financial resources



A government is required to use a DSF in which of the following cases?

A. Cap Leases

B. When financial resources are being accumulated for long term general government principal and
interest maturing in future years

C. Debt refunding

D. All general obligation LTD ANS - B. When financial resources are being accumulated for long term
general government principal and interest maturing in future years



Principal and int expenditures on GLTD should be recognized in the period

A. That the costs are incurred

B. Prior to the year in which they are due ie. when they become short term debt.

C. That they are legally due and payable

D. That they are paid ANS - C. That they are legally due and payable

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