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