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Test Bank For Accounting for Governmental and Nonprofit Entities 19th Jacqueline L Reck, Daniel Neely, Suzanne Lowensohn

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Test Bank For Accounting for Governmental and Nonprofit Entities 19th Jacqueline L Reck, Daniel Neely, Suzanne Lowensohn

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,DOWNLOADgTHEgTestgBankgforgAccountinggforgGovernmentalgandgNonprofitgEntit
iesg17thgEditiongReck




Chapterg02


g PrinciplesgofgAccountinggandgFinancialgReportinggforgStategandgLocal
Governments


Trueg/gFalsegQuestions



1. Governmentalgactivitiesgaregtogbegclassifiedgasggovernmentalgorgbusiness-type.


True False


2. Governmentalgfundsgaregidenticalgtoggovernmentalgactivities,gproprietarygfundsgaregidenticalgt
ogbusiness-
typegactivities,gandgfiduciarygfundsgaregidenticalgtogfiduciarygactivitiesgofgaggovernment.


True False


3. OnlygthoseggovernmentalgandgproprietarygfundsgthatgmeetgthegGASBgsizegcriteriagforgmajorgfun
dsgaregreportedgingseparategcolumnsgofgtheggovernmentalgandgproprietarygfundgfinancialgstatem
ents.


True False


4. Economicgresourcesgaregcashgorgitemsgexpectedgtogbegconvertedgintogcashgduringgthegcurre
ntgperiod,gorgsoongenoughgthereaftergtogpaygcurrentgperiodgliabilities.


True False


5. Governmentalgfundsgaccountgforgassetsgbutgnotgthegliabilities.


True False




2-1
Copyrightg©g2016gMcGraw-
HillgEducation.gAllgrightsgreserved.gNogreproductiongorgdistributiongwithoutgthegpriorgwrittengconsentgofg McGraw-
HillgEducation.
mynursytest.store

,DOWNLOADgTHEgTestgBankgforgAccountinggforgGovernmentalgandgNonprofitgEntit
iesg17thgEditiongReck


6. Thegtypesgofgfundsgthatgmaygbegusedginggovernmentalgaccountinggaregclassifiedgintogthegthr
eegcategoriesgofggovernmental,gproprietary,gandgfiduciary.


True False


7. TheggovernmentalgfundsgcategorygincludesgthegGeneralgFund,gspecialgrevenuegfunds,gdebtgservi
cegfunds,gcapitalgprojectsgfunds,gandginternalgservicegfunds.


True False


8. Governmentsgcan,gingpart,gdemonstrategoperationalgaccountabilitygbygreportinggproprietarygandg
fiduciarygfundgfinancialginformation,gasgwellgasgallggovernment-
widegfinancialginformation,gusinggangeconomicgresourcesgmeasurementgfocusgandgthegaccrualgba
sisgofgaccounting.


True False


9. Allgcapitalgassetsgacquiredgbygorgusedgbygagfundgshouldgbegreportedgingthegfundgbalancegsheet
gorgstatementgofgnetgposition.



True False


10. Becausegbudgetarygaccountsgaregusedgbyggovernments,ggovernmentgfinancialgstatementsgcangnev
ergbegsaidgtogbegingaccordgwithggenerallygacceptedgaccountinggprinciples.


True False


11. Thegmaximumgsetsgofgfundgfinancialgstatementsgaggovernmentgwouldgpresentgaregthree.


True False


12. Whengrevenuesgareglegallygrestrictedgbygexternalgresourcegprovidersgorgcommittedgbygenablin
gglegislationgforgparticulargoperatinggpurposes,gagprivategpurposegtrustgfundgisgcreated.


True False




2-2
Copyrightg©g2016gMcGraw-
HillgEducation.gAllgrightsgreserved.gNogreproductiongorgdistributiongwithoutgthegpriorgwrittengconsentgofg McGraw-
HillgEducation.
mynursytest.store

, DOWNLOADgTHEgTestgBankgforgAccountinggforgGovernmentalgandgNonprofitgEntit
iesg17thgEditiongReck


13. Agdebtgservicegfundgisgusedgtogaccountgforgfinancialgresourcesgsegregatedgforgthegpurposeg
ofgmakinggprincipalgandginterestgpaymentsgonggeneralglong-termgdebt.


True False


14. Agdeferredginflowgofgresourcesgisgdefinedgasg"angacquisitiongofgnetgassetsgbygtheggovernmentgthat
gisgapplicablegtogagfuturegreportinggperiod."



True False


15. Expendituresgaregnevergrecordedginggovernmentalgfunds.


True False


16. Deferredgoutflowgofgresourcesgisgagtypegofgassetgthatgisguniquegtoggovernment.


True False


17. RevenuesgisgangexamplegofgwhatgthegGASBgtermsganginflowgofgresources.


True False


18. AngexpendituregisgangexamplegofgwhatgthegGASBgtermsgangoutflowgofgresources.


True False


19. Deferredginflowgofgresourcesgandgdeferredgoutflowgofgresourcesgwouldgbegshowngingsepara
tegsectionsgofgaggovernment'sgstatementgofgnetgposition.


True False


20. IngaccordancegwithgGASBgstandards,gagdeferredginflowgofgresourcesgisgreportedgongthegfinanci
algstatementsgthegsamegasgangunearnedgrevenue.


True False




2-3
Copyrightg©g2016gMcGraw-
HillgEducation.gAllgrightsgreserved.gNogreproductiongorgdistributiongwithoutgthegpriorgwrittengconsentgofg McGraw-
HillgEducation.
mynursytest.store
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Suzanne Lowensohn, Jacqueline L. Reck, Earl R Wilson Accounting for Governmental and Nonprofit Entities
Publisher: 2012 ISBN: 9780078110931 Edition: Unknown

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