Test Bank for Essentials of Accounting for Governmental and Not-for-Profit Organizations 15 edition Paul Copley Chapters 1-14 Covered

Test Bank
Essentials of Accounting for Governmental and
Not-for-Profit Organizations 15 edition Paul Copley
Chapters 1-14 Covered




1

,TABLE OF CONTENT
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CHAPTERl1:lIntroductionltolaccountinglandlfinanciallreportinglforlgovernmentallandlnot-for-profitlorganizationsl

CHAPTERl2:lOverviewloflfinanciallreportinglforlstatelandllocallgovernmentsl

CHAPTERl3:lModifiedlaccruallaccounting:lIncludinglthelroleloflfundlbalanceslandlbudgetarylauthorityl

CHAPTERl4:lAccountinglforlthelgenerallandlspeciallrevenuelfundsl

CHAPTERl5:lAccountinglforlotherlgovernmentallfundltypes:lcapitallprojects,ldebtlservice,landlpermanentl

CHAPTERl6:lProprietarylFundsl

CHAPTERl7:lFiduciarylFundsl

CHAPTERl8:lGovernment-widelstatements,lcapitallassets,llong-termldebtl

CHAPTERl9:lAdvancedltopicslforlstatelandllocallgovernmentsl

CHAPTERl10:lAccountinglforlprivatelnot-for-profitlorganizationsl

CHAPTERl11:lCollegelandluniversitylaccountingl

CHAPTERl12:lAccountinglforlhospitalslandlotherlhealthlcarelprovidersl

CHAPTERl13:lAuditing,ltax-exemptlorganizations,landlevaluatinglperformancell

CHAPTERl14:lFinanciallreportinglbylthelfederallgovernmentl




2

,Chap 01 15e Copley
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Answers Included
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1) ThelGovernmentallAccountinglStandardslBoardlsetslfinanciallreportinglstandardslforlallluni
tsloflgovernment:lfederal,lstate,landllocal.
⊚l true
⊚l false



2) Fundlaccountinglexistslprimarilyltolprovidelassurancelthatlresourceslarelusedlaccordingltolle
gallorldonorlrestrictions.
⊚l true
⊚l false



3) ThelFinanciallAccountinglStandardslBoardlsetslfinanciallreportinglstandardslforlprofit-
lseekinglbusinesseslandlnongovernmental,lnot-for-profitlorganizations.
⊚l true
⊚l false



4) FASAB,lGASB,landlFASBlstandardslarelsetlforthlprimarilylinldocumentslcalledlstatements.
⊚l true
⊚l false



5) FASAB,lGASB,landlFASBlreportinglstandardslarelsetlforthlprimarilylinldocumentslcalledlconc
eptlstatements.
⊚l true
⊚l false



6) ThelFASABlwaslestablishedltolrecommendlaccountinglandlfinanciallreportinglstandardslforlthel
federallgovernment.
⊚l true
⊚l false




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, 7) ThelGASBldoeslnotlrequirelsupplementarylinformationltolbelreportedlwithlitslfinanciallstatem
entslevenliflitlislessentialltolestablishlappropriatelcontextlforlthelfinanciallstatementslandlnote
s.
⊚l true
⊚l false



8) ThelFinanciallAccountinglStandardslBoardlsetslfinanciallreportinglstandardslforlprivatelnot-lfor-
profitslandlinvestor-ownedlbusinesses.
⊚l true
⊚l false



9) Anlorganizationlislpresumedltolbelgovernmentalliflitlhaslthelabilityltolissueldirectlyldebtlthatlislex
emptlfromlfederalltaxes.
⊚l true
⊚l false



10) ThelFinanciallAccountinglStandardslBoardlandlthelGovernmentallAccountinglStandardslBo
ardlarelparallellbodieslunderltheloversightloflthelFinanciallAccountinglFoundation.
⊚l true
⊚l false



11) ThelFederallAccountinglStandardslAdvisorylBoardlrequiresllesslextensivelreportslthanldoeslth
elFASBlorlGASB.
⊚l true
⊚l false



12) ThelFASABlrequireslmorelfinanciallstatementslthanlareltypicallylrequiredloflstatelandllocallgov
ernments.
⊚l true
⊚l false




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