introductory governmental accounting
questions with actual answers.
proprietary ANS -_______________ fund statements of position are more focused on economic
condition than financial position.
revenues and expenses ANS -Increases and decreases in net position are called...
Financial position. ANS -The term "expenditure" represents a decrease in
Net position. ANS -Revenues ultimately increase...
fund balance ANS -Expenditures ultimately decrease...
Decreases it. ANS -What effect does the recording of expenditures have on fund equity?
Revenues and expenditures. ANS -Increases and decreases in net current assets/fund balance are
called...
Comparing expendable financial resources with short-term obligations. ANS -Financial position is
demonstrated by
No effect. ANS -What effect does the purchase of an investment have on fund equity?
Governmental ANS -_______________ fund statements of position are more focused on financial
position than economic condition.
Financial position. ANS -The measure of an individual fund's ability to pay its bills is knows as
Economic condition. ANS -The measure of a fund's overall wealth is known as
, An operating statement. ANS -A financial statement that reports activity during the year that increases
and decreases equity is called...
Revenues, expenditures, and fund balance. ANS -Indicate which accounts are reported on governmental
fund type operating statements...
Revenues, expenses, and net position. ANS -Indicate which accounts may be reported on proprietary
fund type operating statements...
No effect. ANS -If a government borrows money to pay outstanding accounts payable, what is the effect
on fund equity?
Current assets less current liabilities. ANS -Choose the answer that seems most correct. Net current
assets/fund balances are...
Increases it. ANS -What effect does the recognition of revenue ultimately have on fund equity?
Comparing total resources with total obligations. ANS -Economic condition is demonstrated by
Current assets, current liabilities, and fund balance. ANS -Normally, governmental fund type balance
sheets report only...
Total assets, total liabilities, and net position. ANS -Proprietary fund type statement of net position
reports only...
Economic condition. ANS -The term "expense" represents a decrease in
chart of accounts ANS -A listing of all accounts in an accounting system is known as a(n)
Fund identifiers. ANS -Which of the following is not one of the three categories of general ledger
accounts?
questions with actual answers.
proprietary ANS -_______________ fund statements of position are more focused on economic
condition than financial position.
revenues and expenses ANS -Increases and decreases in net position are called...
Financial position. ANS -The term "expenditure" represents a decrease in
Net position. ANS -Revenues ultimately increase...
fund balance ANS -Expenditures ultimately decrease...
Decreases it. ANS -What effect does the recording of expenditures have on fund equity?
Revenues and expenditures. ANS -Increases and decreases in net current assets/fund balance are
called...
Comparing expendable financial resources with short-term obligations. ANS -Financial position is
demonstrated by
No effect. ANS -What effect does the purchase of an investment have on fund equity?
Governmental ANS -_______________ fund statements of position are more focused on financial
position than economic condition.
Financial position. ANS -The measure of an individual fund's ability to pay its bills is knows as
Economic condition. ANS -The measure of a fund's overall wealth is known as
, An operating statement. ANS -A financial statement that reports activity during the year that increases
and decreases equity is called...
Revenues, expenditures, and fund balance. ANS -Indicate which accounts are reported on governmental
fund type operating statements...
Revenues, expenses, and net position. ANS -Indicate which accounts may be reported on proprietary
fund type operating statements...
No effect. ANS -If a government borrows money to pay outstanding accounts payable, what is the effect
on fund equity?
Current assets less current liabilities. ANS -Choose the answer that seems most correct. Net current
assets/fund balances are...
Increases it. ANS -What effect does the recognition of revenue ultimately have on fund equity?
Comparing total resources with total obligations. ANS -Economic condition is demonstrated by
Current assets, current liabilities, and fund balance. ANS -Normally, governmental fund type balance
sheets report only...
Total assets, total liabilities, and net position. ANS -Proprietary fund type statement of net position
reports only...
Economic condition. ANS -The term "expense" represents a decrease in
chart of accounts ANS -A listing of all accounts in an accounting system is known as a(n)
Fund identifiers. ANS -Which of the following is not one of the three categories of general ledger
accounts?
