Government Chapter 1 (Answered Correctly)

Which of the following would not be considered a government or nonprofit organization? A.A software company that sells software exclusively to state and local governments. B.A public elementary school. C.A church. D.A private trust organized for charitable purposes correct answers A. A software company that sells software exclusively to state and local governments. Which of the following activities would most likely be accounted for as a business-type activity?A.Fire protection. B.Recreation. C.Water operations. D.Street maintenance correct answers C.Water operations. Prior to the creation of the Governmental Accounting Standards Board in 1984, which of the following organizations had the greatest influence over accounting concepts, principles, and standards for the state and local governments?A.The National Council on Governmental Accounting (NCGA) B.The National Association of College and University Business Officers (NACUBO). C.The American Institute of Certified Public Accountants (AICPA). D.The Comptroller General of the United States correct answers A.The National Council on Governmental Accounting (NCGA) Which of the following is considered a health and welfare organization? A.Secondary schools. B.Young Men's Christian Association (YMCA). C.Child protection agencies. D.United Way. correct answers C.Child protection agencies. Which of the following characteristics best distinguishes a government entity from a business entity? A.Governments operate in a very small section of the economy while businesses operate globally. B.Cost analysis and other control and evaluation techniques are essential to ensure that resources are used economically and efficiently. C.Those contributing resources to the entity do not necessarily receive a direct or proportionate share the services. D.Businesses must acquire and convert scarce resources while governments can demand whatever they need. correct answers C.Those contributing resources to the entity do not necessarily receive a direct or proportionate share the services. Which source of financial resources is unique to governments? A.Borrowings. B.Gifts and grants. C.Charges for services provided. D.Taxation correct answers D.Taxation