When a governmental entity adopts a basis of accounting other than full accrual and a measurement focus that excludes long-lived assets and liabilities in its governmental fund types:
Which of the following funds is accounted for on the modified accrual basis of accounting?
Riverside Golf Course is a City-owned golf course that collects greens fees in amounts sufficient to cover its expenses. Riverside Golf Course should be accounted for in which of the following funds?
Which of the following assets would NOT be found in the fund balance sheet of the General Fund of the City of Harrison?
Basis of accounting determines which of the following?
Which of the following funds is a proprietary fund?
Which of the following is NOT a governmental fund?
To fulfill the printing needs of its various departments and agencies, the City has established a Central Print Shop which bills the various departments and agencies of the city for printing services rendered. The Central Print Shop should be accounted for in which of the following funds.
Which of the following liabilities would NOT be found in the fund balance sheet of the General Fund of the City of Marmaduke?
Which of the following funds is a fiduciary fund?
For which of the following entities is fund accounting mandated?
What is the primary reason that governmental entities use fund accounting?
The City of San Jose built a new city hall and financed construction by issuing bonds due in installments over the next 30 years. The bond principal and interest will be paid by a special tax levied on property in the City. The money received from this special tax should be accounted for in which of the following funds?
A fund is
A city receives a donation from a citizen who specifies that the principal must be invested and the earnings must be used to support operations of a city-owned recreational facility. The principal of this gift should be accounted for in which of the following funds?
__________ is governments’ responsibility to report the extent to which they have met their operating objectives efficiently and effectively, using all resources available for that purpose, and whether they can continue to meet their objectives for the foreseeable future.
Per Statement No. 34, the GASB requires that governments present their budget versus actual comparisons on a __________ and include a schedule that reconciles the actual amounts per the budgetary comparison with the GAAP amounts per the financial statements.
The Basic Financial Statements of a city do not include which of the following?
Government-wide financial statements should include
In addition to government-wide statements, GASB Statement No. 34 requires fund financial statements be included in the government’s basic set of financial statements. The basic fund financial statements that should be included for governmental funds are
In the fund financial statements, the statements for the governmental funds should be prepared using
In the fund financial statements, the statements for the proprietary funds should be prepared using
Which of the following would NOT be found in the Statement of Net Assets of Teton City?
__________ is the responsibility of governments to justify that their actions in the current period have complied with public decisions concerning the raising and spending of public moneys in the short term.
In the fund financial statements, the statements for the fiduciary funds should be prepared using
The focus of the Statement of Activities of the city of West Hills is on which of the following?
Which of the following would NOT be found in the business-type activity column of the government-wide Statement of Net Assets of the City of Smithville?
Which of the following is NOT considered Required Supplementary Information (RSI)?
How many government-wide statements is a municipality required to prepare?
Under the new GASB reporting model for governmental entities, the focus of the entity-wide activity/operating statement is on which of the following?