TEST BANK FOR ACCOUNTING FOR GOVERNMENTAL & NONPROFIT ENTITIES, 18TH ED JACQUELINE RECK, SUZANNE LOWENSOHN, EARL WILSON

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,TABLE OF CONTENTS
1. Chapter 1: Introduction To Accounting And Financial Reporting For Government And Not-For-Profit
Entities

 Welcome To Government And Not-For-Profit Accounting
 Distinguishing Government And Not-For-Profit Organizations
 What Are Government And Not-For-Profit Organizations?
 Distinguishing Characteristics Of Government And Not-For-Profit Organizations
 Overview Of Chapters 2 Through 17

2. Chapter 2: Principles Of Accounting And Financial Reporting For State And Local
3. Chapter 3: Governmental Operating Statement Accounts; Budgetary Accounting
4. Chapter 4: Accounting For Governmental Operating Activities—Illustrative
5. Chapter 5: Accounting For General Capital Assets And Capital Projects
6. Chapter 6: Accounting For General Long-Term Liabilities And Debt Service
7. Chapter 7: Accounting For The Business-Type Activities Of State And Local
8. Chapter 8: Accounting For Fiduciary Activities—Custodial And Trust Funds
9. Chapter 9: Financial Reporting Of State And Local Governments
10. Chapter 10: Analysis Of Government Financial Performance
11. Chapter 11: Auditing Of Government And Not-For-Profit Organizations
12. Chapter 12: Budgeting And Performance Measurement
13. Chapter 13: Not-For-Profit Organizations—Regulatory, Taxation, And
14. Chapter 14: Accounting For Not-For-Profit Organizations
15. Chapter 15: Accounting For Colleges And Universities
16. Chapter 16: Accounting For Health Care Organizations
17. Chapter 17: Accounting And Reporting For The Federal Government




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,Accounting For Governmental And Nonprofit Entities, 18e (Reck)
Chapter 1 Introduction To Accounting And Financial Reporting For Government And Not-For-
Profit Entities

1) Special Purpose Governments Generally Provide A Wider Range Of Services To Their Residents
Than Do General Purpose Governments.

ANS: FALSE
Difficulty: 1 Easy
Topic: Distinguishing Government And Not-For-Profit Organizations
Learning Objective: 01-01 Identify And Explain The Characteristics That Distinguish Government And
Not-For-Profit Entities From For-Profit Entities.
Bloom's: Remember
AACSB: Knowledge Application AICPA:
BB Industry

2) Examples Of General Purpose Governments Include Cities, Towns, And Public Schools That Receive
Tax Revenue To Finance The Services They Provide.

ANS: TRUE
Difficulty: 1 Easy
Topic: Distinguishing Government And Not-For-Profit Organizations
Learning Objective: 01-01 Identify And Explain The Characteristics That Distinguish Government And
Not-For-Profit Entities From For-Profit Entities.
Bloom's: Remember
AACSB: Knowledge Application AICPA:
BB Industry

3) The Governmental Accounting Standards Board (GASB) Is The Body Authorized To Establish
Accounting Principles For All State And Local Governments, Both General Purpose And Special
Purpose.

ANS: TRUE
Difficulty: 1 Easy
Topic: Sources Of Financial Reporting Standards
Learning Objective: 01-02 Identify The Authoritative Bodies Responsible For Setting Financial
Reporting Standards For (1) State And Local Governments, (2) The Federal Government, And
(3) Not-For-Profit Organizations.
Bloom's: Remember
AACSB: Knowledge Application
AICPA: BB Industry




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, 4) The Governmental Accounting Standards Board (GASB) Is The Body Authorized To Establish
Accounting Principles For All Government Entities.

ANS: FALSE
Difficulty: 1 Easy
Topic: Sources Of Financial Reporting Standards
Learning Objective: 01-02 Identify The Authoritative Bodies Responsible For Setting Financial
Reporting Standards For (1) State And Local Governments, (2) The Federal Government, And
(3) Not-For-Profit Organizations.
Bloom's: Remember
AACSB: Knowledge Application
AICPA: BB Industry

5) The Financial Accounting Standards Board (FASB) Is The Body Authorized To Establish
Accounting Principles For All Colleges And Universities And Health Care Entities.

ANS: FALSE
Difficulty: 1 Easy
Topic: Sources Of Financial Reporting Standards
Learning Objective: 01-02 Identify The Authoritative Bodies Responsible For Setting Financial
Reporting Standards For (1) State And Local Governments, (2) The Federal Government, And
(3) Not-For-Profit Organizations.
Bloom's: Remember
AACSB: Knowledge Application
AICPA: BB Industry

6) Neither Governments Nor Not-For-Profit Entities Have Residual Equity That Can Be Distributed
To Owners.

ANS: TRUE Difficulty:
2 Medium
Topic: Distinguishing Government And Not-For-Profit Organizations
Learning Objective: 01-01 Identify And Explain The Characteristics That Distinguish Government And
Not-For-Profit Entities From For-Profit Entities.
Bloom's: Understand
AACSB: Knowledge Application AICPA:
FN Reporting




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