Test Bank
Government And Not-For-Profit Accounting,
By Michael H. Granof
9th Edition
,Table Of Content
Chapter 1 The Government And Not-For-Profit Environment.
Chapter 2 Fund Accounting.
Chapter 3 Issues Of Budgeting And Control.
Chapter 4 Recognizing Revenues In Governmental Funds.
Chapter 5 Recognizing Expenditures In Governmental Funds.
Chapter 6 Accounting For Capital Projects And Debt Service.
Chapter 7 Capital Assets And Investments In Marketable Securities.
Chapter 8 Long-Term Obligations.
Chapter 9 Business-Type Activities.
Chapter 10 Fiduciary Funds And Permanent Funds.
Chapter 11 Issues Of Reporting, Disclosure, And Financial Analysis.
Chapter 12 Not-For-Profit Organizations.
Chapter 13 Colleges And Universities.
Chapter 14 Health Care Providers.
Chapter 15 Managing For Results.
Chapter 16 Auditing Governments And Not-For-Profit Organizations.
Chapter 17 Federal Government Accounting.
,Test Bank For Government And Not-For-Profit Accounting: Concepts
And Practices, 9th Edition By Michael H. Granof
Chapter 1
The Government And Not-For-Profit Environment
True/False (Chapter 1)
1. The Objectives Of A Typical Government Or Not-For-Profit Entity Include
Abstract Goals That Are More Difficult To Quantify Than Profit.
2. A Government’s Budget May Be Backed By The Force Of Law.
3. Governments Have No Need For An Accounting System.
4. A Government’s Constituents Rely On General Purpose Financial
Statements For A Considerable Amount Of Information About Their
Government.
5. Governments And Not-For-Profit Entities May Never Engage In Business-
Type Activities.
6. Lenders Use The Financial Statements Of Governments And Not-For-
Profit Entities Just As They Would Those Of Businesses, That Is, To Help
Assess The Borrower’s Credit-Worthiness.
7. Financial Statements, No Matter How Prepared, Do Not Directly Affect
The Economic Worth Of An Entity.
8. The Federal Accounting Standards Advisory Board’s Standards Do Not
Apply To The Federal Department Of The Treasury.
9. Sarbanes-Oxley Was Passed In 2002 With The Sole Purpose Of Enhancing
The Independence Of The Gasb.
10. The Governmental Accounting Standards Board Establishes Generally
Accepted Accounting Principles For All State And Local Governments
And All Not-For-Profit Entities.
, Answers To True/False Questions (Chapter 1)
1. True
2. True
3. False
4. True
5. False
6. True
7. True
8. False
9. False
10. False
Government And Not-For-Profit Accounting,
By Michael H. Granof
9th Edition
,Table Of Content
Chapter 1 The Government And Not-For-Profit Environment.
Chapter 2 Fund Accounting.
Chapter 3 Issues Of Budgeting And Control.
Chapter 4 Recognizing Revenues In Governmental Funds.
Chapter 5 Recognizing Expenditures In Governmental Funds.
Chapter 6 Accounting For Capital Projects And Debt Service.
Chapter 7 Capital Assets And Investments In Marketable Securities.
Chapter 8 Long-Term Obligations.
Chapter 9 Business-Type Activities.
Chapter 10 Fiduciary Funds And Permanent Funds.
Chapter 11 Issues Of Reporting, Disclosure, And Financial Analysis.
Chapter 12 Not-For-Profit Organizations.
Chapter 13 Colleges And Universities.
Chapter 14 Health Care Providers.
Chapter 15 Managing For Results.
Chapter 16 Auditing Governments And Not-For-Profit Organizations.
Chapter 17 Federal Government Accounting.
,Test Bank For Government And Not-For-Profit Accounting: Concepts
And Practices, 9th Edition By Michael H. Granof
Chapter 1
The Government And Not-For-Profit Environment
True/False (Chapter 1)
1. The Objectives Of A Typical Government Or Not-For-Profit Entity Include
Abstract Goals That Are More Difficult To Quantify Than Profit.
2. A Government’s Budget May Be Backed By The Force Of Law.
3. Governments Have No Need For An Accounting System.
4. A Government’s Constituents Rely On General Purpose Financial
Statements For A Considerable Amount Of Information About Their
Government.
5. Governments And Not-For-Profit Entities May Never Engage In Business-
Type Activities.
6. Lenders Use The Financial Statements Of Governments And Not-For-
Profit Entities Just As They Would Those Of Businesses, That Is, To Help
Assess The Borrower’s Credit-Worthiness.
7. Financial Statements, No Matter How Prepared, Do Not Directly Affect
The Economic Worth Of An Entity.
8. The Federal Accounting Standards Advisory Board’s Standards Do Not
Apply To The Federal Department Of The Treasury.
9. Sarbanes-Oxley Was Passed In 2002 With The Sole Purpose Of Enhancing
The Independence Of The Gasb.
10. The Governmental Accounting Standards Board Establishes Generally
Accepted Accounting Principles For All State And Local Governments
And All Not-For-Profit Entities.
, Answers To True/False Questions (Chapter 1)
1. True
2. True
3. False
4. True
5. False
6. True
7. True
8. False
9. False
10. False
