Which of the following fund types should account for fixed assets in a manner similar
to a "for profit" organization?
A. Special revenue fund
B. Capital projects fund
C. Enterprise fund
D. General fixed assets account group.
Give this one a try later!
C. Enterprise fund
The primary authoritative body for determine the measurement focus and basis of
accounting standards for governmental fund operating statements is the:
, A. National Council on Governmental Accounting (NCGA)
B. Financial Accounting Standards Board(FASB)
C. Governmental Accounting and Auditing Committee of the AICPA(GAAC)
D. Governmental Accounting Standards Board (GASB)
Give this one a try later!
D. Governmental Accounting Standards Board (GASB)
Under the modified accrual basis of accounting for a governmental unit, revenues
should be recognized in the accounting period in which they:
A. Are collected.
B. Become available and earned.
C. Become available and measurable.
D. Are earned and become measurable
Give this one a try later!
C. Become available and measurable.
In which of the following fund types of a city government are revenues and
expenditures recognized on the same basis of accounting as the general fund?
A. Fiduciary
B. Internal service
to a "for profit" organization?
A. Special revenue fund
B. Capital projects fund
C. Enterprise fund
D. General fixed assets account group.
Give this one a try later!
C. Enterprise fund
The primary authoritative body for determine the measurement focus and basis of
accounting standards for governmental fund operating statements is the:
, A. National Council on Governmental Accounting (NCGA)
B. Financial Accounting Standards Board(FASB)
C. Governmental Accounting and Auditing Committee of the AICPA(GAAC)
D. Governmental Accounting Standards Board (GASB)
Give this one a try later!
D. Governmental Accounting Standards Board (GASB)
Under the modified accrual basis of accounting for a governmental unit, revenues
should be recognized in the accounting period in which they:
A. Are collected.
B. Become available and earned.
C. Become available and measurable.
D. Are earned and become measurable
Give this one a try later!
C. Become available and measurable.
In which of the following fund types of a city government are revenues and
expenditures recognized on the same basis of accounting as the general fund?
A. Fiduciary
B. Internal service
