Test Bank +q
Essentials of Accounting for Governmental and
+q +q +q +q +q
Not-for-Profit Organizations 15 edition Paul Copley
+q +q +q +q +q
Chapters 1-14 Covered
+q +q
1
,TABLE OF CONTENT
+q +q
CHAPTER 1: Introduction to accounting and financial reporting for governmental and not-for-
+q +q +q +q +q +q +q +q +q +q +q
profit organizations
+q +q
CHAPTER 2: Overview of financial reporting for state and local governments
+q +q +q +q +q +q +q +q +q +q +q
CHAPTER 3: Modified accrual accounting: Including the role of fund balances and budgetary authority
+q +q +q +q +q +q +q +q +q +q +q +q +q +q
CHAPTER 4: Accounting for the general and special revenue funds
+q +q +q +q +q +q +q +q +q +q
CHAPTER 5: Accounting for other governmental fund types: capital projects, debt service, and permanent
+q +q +q +q +q +q +q +q +q +q +q +q +q +q
CHAPTER 6: Proprietary Funds
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CHAPTER 7: Fiduciary Funds
+q +q +q +q
CHAPTER 8: Government-wide statements, capital assets, long-term debt
+q +q +q +q +q +q +q +q
CHAPTER 9: Advanced topics for state and local governments
+q +q +q +q +q +q +q +q +q
CHAPTER 10: Accounting for private not-for-profit organizations
+q +q +q +q +q +q +q
CHAPTER 11: College and university accounting
+q +q +q +q +q +q
CHAPTER 12: Accounting for hospitals and other health care providers
+q +q +q +q +q +q +q +q +q +q
CHAPTER 13: Auditing, tax-exempt organizations, and evaluating performance
+q +q +q +q +q +q +q +q+q
CHAPTER 14: Financial reporting by the federal government
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2
,Chap 01 15e Copley
+q +q +q
Answers Included +q
1) The Governmental Accounting Standards Board sets financial reporting standards for
+q +q +q +q +q +q +q +q +q +q
all units of government: federal, state, and local.
+q +q +q +q +q +q +q
⊚ true + q
⊚ false + q
2) Fund accounting exists primarily to provide assurance that resources are used according
+q +q +q +q +q +q +q +q +q +q +q +
to legal or donor restrictions.
q +q +q +q +q
⊚ true + q
⊚ false + q
3
, 3) The Financial Accounting Standards Board sets financial reporting standards for prof
+q +q +q +q +q +q +q +q +q +q
it- seeking businesses and nongovernmental, not-for-profit organizations.
+q +q +q +q +q +q
⊚ true + q
⊚ false+ q
4) FASAB, GASB, and FASB standards are set forth primarily in documents called statements.
+q +q +q +q +q +q +q +q +q +q +q +q
⊚ true + q
⊚ false + q
5) FASAB, GASB, and FASB reporting standards are set forth primarily in documents call
+q +q +q +q +q +q +q +q +q +q +q +q
ed concept statements.
+q +q
⊚ true + q
⊚ false + q
6) The FASAB was established to recommend accounting and financial reporting standards f
+q +q +q +q +q +q +q +q +q +q +q
or the federal government.
+q +q +q
⊚ true + q
⊚ false + q
4
Essentials of Accounting for Governmental and
+q +q +q +q +q
Not-for-Profit Organizations 15 edition Paul Copley
+q +q +q +q +q
Chapters 1-14 Covered
+q +q
1
,TABLE OF CONTENT
+q +q
CHAPTER 1: Introduction to accounting and financial reporting for governmental and not-for-
+q +q +q +q +q +q +q +q +q +q +q
profit organizations
+q +q
CHAPTER 2: Overview of financial reporting for state and local governments
+q +q +q +q +q +q +q +q +q +q +q
CHAPTER 3: Modified accrual accounting: Including the role of fund balances and budgetary authority
+q +q +q +q +q +q +q +q +q +q +q +q +q +q
CHAPTER 4: Accounting for the general and special revenue funds
+q +q +q +q +q +q +q +q +q +q
CHAPTER 5: Accounting for other governmental fund types: capital projects, debt service, and permanent
+q +q +q +q +q +q +q +q +q +q +q +q +q +q
CHAPTER 6: Proprietary Funds
+q +q +q +q
CHAPTER 7: Fiduciary Funds
+q +q +q +q
CHAPTER 8: Government-wide statements, capital assets, long-term debt
+q +q +q +q +q +q +q +q
CHAPTER 9: Advanced topics for state and local governments
+q +q +q +q +q +q +q +q +q
CHAPTER 10: Accounting for private not-for-profit organizations
+q +q +q +q +q +q +q
CHAPTER 11: College and university accounting
+q +q +q +q +q +q
CHAPTER 12: Accounting for hospitals and other health care providers
+q +q +q +q +q +q +q +q +q +q
CHAPTER 13: Auditing, tax-exempt organizations, and evaluating performance
+q +q +q +q +q +q +q +q+q
CHAPTER 14: Financial reporting by the federal government
+q +q +q +q +q +q +q +q
2
,Chap 01 15e Copley
+q +q +q
Answers Included +q
1) The Governmental Accounting Standards Board sets financial reporting standards for
+q +q +q +q +q +q +q +q +q +q
all units of government: federal, state, and local.
+q +q +q +q +q +q +q
⊚ true + q
⊚ false + q
2) Fund accounting exists primarily to provide assurance that resources are used according
+q +q +q +q +q +q +q +q +q +q +q +
to legal or donor restrictions.
q +q +q +q +q
⊚ true + q
⊚ false + q
3
, 3) The Financial Accounting Standards Board sets financial reporting standards for prof
+q +q +q +q +q +q +q +q +q +q
it- seeking businesses and nongovernmental, not-for-profit organizations.
+q +q +q +q +q +q
⊚ true + q
⊚ false+ q
4) FASAB, GASB, and FASB standards are set forth primarily in documents called statements.
+q +q +q +q +q +q +q +q +q +q +q +q
⊚ true + q
⊚ false + q
5) FASAB, GASB, and FASB reporting standards are set forth primarily in documents call
+q +q +q +q +q +q +q +q +q +q +q +q
ed concept statements.
+q +q
⊚ true + q
⊚ false + q
6) The FASAB was established to recommend accounting and financial reporting standards f
+q +q +q +q +q +q +q +q +q +q +q
or the federal government.
+q +q +q
⊚ true + q
⊚ false + q
4
