TEST BANK for Essentials of Accounting for Governmental and Not-for-Profit Organizations 15 edition Paul Copley All Chapters 1 to 14 Covered

,DOWNLOAD78THE78Test78Bank78for78Essentials78of78Accounting78for78Governmenta
l78and78Not-for-Profit78Organizations7814th78Edition78Copley


Student78name:
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78Write78'T'78if78the78statement78is78true78and78'F'78if78the78statement78is78false.
1) A78Comprehensive78Annual78Financial78Report78(CAFR)78would78include78an78intr
oductory78section,78management's78discussion78and78analysis,78basic78financial78statement
s,78required78supplementary78information78other78than78MD&A,78combining78and78individ
ual78fund78statements,78narrative78explanations,78and78statistical78section.

⊚ true
⊚ false


2) The78three78major78sections78of78a78CAFR78are78the78Introductory,78Financial,78an
d78Statistical78sections.

⊚ true
⊚ false


3) The78introductory78and78statistical78sections78of78a78CAFR78are78required78to78be78audited
.

⊚ true
⊚ false


4) State78and78local78governments78are78not78required78to78prepare78a78CAFR.

⊚ true
⊚ false


5) Combining78statements78are78required78whenever78a78non-
major78column78is78used78in78one78of78the78fund78financial78statements.

⊚ true
⊚ false


6) A78complete78CAFR78includes78combining78financial78statements78to78reflect78greater
78detail78of78nonmajor78funds.


⊚ true

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,DOWNLOAD78THE78Test78Bank78for78Essentials78of78Accounting78for78Governmenta
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, DOWNLOAD78THE78Test78Bank78for78Essentials78of78Accounting78for78Governmenta
l78and78Not-for-Profit78Organizations7814th78Edition78Copley




7) In78addition78to78the78government-
wide78statements,78governments78are78required78to78prepare78fund78financial78statements78for78go
vernmental,78proprietary78and78fiduciary78funds.

⊚ true
⊚ false


8) In78addition78to78the78government-
wide78statements,78governments78are78required78to78prepare78fund78financial78statements78for78go
vernmental78funds78only.

⊚ true
⊚ false


9) The78General78Fund78is78not78always78considered78to78be78a78major78fund78when78prepari
ng78fund78basis78financial78statements.

⊚ true
⊚ false


10) With78respect78to78fund78basis78financial78statements,78governmental78funds78are78consid
ered78to78be78a78major78fund78when78total78assets,78liabilities,78revenues78and78expenditures78co
mbined78are78at78least7810%78of78the78total78for78the78governmental78funds78category.

⊚ true
⊚ false


11) With78respect78to78fund78basis78financial78statements,78a78government78may78only78desig
nate78a78fund78to78be78a78major78fund78if78it78meets78the78size78thresholds78established78by78GA
SB.

⊚ true
⊚ false


12) With78respect78to78fund78basis78financial78statements,78a78government78may78designate78
any78fund78to78be78a78major78fund78if78reporting78that78fund78separately78would78be78useful.

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