GOVERNMENT AND NOT FOR PROFIT
ACCOUNTING CONCEPTS AND PRACTICES 9
2026 EXAM SCRIPT COMPLETE QUESTIONS
AND SOLUTIONS GRADED A+
◉ One difference between special-purpose and general-purpose
governments is that general-purpose governments. Answer:
generally provide more services or programs than special-purpose
governments
◉ Special-purpose governments that are engaged in only one
governmental-type activity are. Answer: allowed to combine the
fund and government-wide financial statements
◉ Special-purpose governments that are only engaged in business-
type activities provide the same fund-based statements required of
___ funds. Answer: proprietary
◉ Special-purpose governments that are engaged only in fiduciary
activities are ______ to prepare government-wide financial
statements.. Answer: not required
◉ Tollway and transit authorities are examples of _____
governments.. Answer: special-purpose
, ◉ Special assessments may be either ___ types or ____ types. Answer:
-service
- construction
◉ GASB gives a clear definition of. Answer: neither special-purpose
nor general-purpose governments
◉ GASB standards mandate that a government should account for
special assessment activities in a custodial fund if the government
______ for the debt in the event of default.. Answer: has no obligation
◉ Special-purpose governments that are engaged in both
governmental and business-type activities or in more than one
governmental activity are ______.. Answer: required to prepare both
fund and government-wide financial statements
◉ Special assessment transactions are ______. Answer: only handled
like governmental projects if the government is liable in the event of
default
◉ Special-purpose governments that are engaged only in business-
type activities are ______ to prepare government-wide financial
statements. Answer: not required
ACCOUNTING CONCEPTS AND PRACTICES 9
2026 EXAM SCRIPT COMPLETE QUESTIONS
AND SOLUTIONS GRADED A+
◉ One difference between special-purpose and general-purpose
governments is that general-purpose governments. Answer:
generally provide more services or programs than special-purpose
governments
◉ Special-purpose governments that are engaged in only one
governmental-type activity are. Answer: allowed to combine the
fund and government-wide financial statements
◉ Special-purpose governments that are only engaged in business-
type activities provide the same fund-based statements required of
___ funds. Answer: proprietary
◉ Special-purpose governments that are engaged only in fiduciary
activities are ______ to prepare government-wide financial
statements.. Answer: not required
◉ Tollway and transit authorities are examples of _____
governments.. Answer: special-purpose
, ◉ Special assessments may be either ___ types or ____ types. Answer:
-service
- construction
◉ GASB gives a clear definition of. Answer: neither special-purpose
nor general-purpose governments
◉ GASB standards mandate that a government should account for
special assessment activities in a custodial fund if the government
______ for the debt in the event of default.. Answer: has no obligation
◉ Special-purpose governments that are engaged in both
governmental and business-type activities or in more than one
governmental activity are ______.. Answer: required to prepare both
fund and government-wide financial statements
◉ Special assessment transactions are ______. Answer: only handled
like governmental projects if the government is liable in the event of
default
◉ Special-purpose governments that are engaged only in business-
type activities are ______ to prepare government-wide financial
statements. Answer: not required
