Question 1

Fund financial statements include which of the following for a governmental fund?

Accepted Answer

A) Statement of net position and statement of changes in net position. 
B) Statement of net position,statement of changes in net position,and statement of cash flows. 
C) Balance sheet;statement of revenue,expenditures,and changes in fund balance;and statement of cash flows. 
D) Balance sheet;and statement of revenue,expenses,and changes in fund balance. 
A) Statement of net position and statement of changes in net position. 
B) Statement of net position,statement of changes in net position,and statement of cash flows. 
C) Balance sheet;statement of revenue,expenditures,and changes in fund balance;and statement of cash flows. 
D) Balance sheet;and statement of revenue,expenses,and changes in fund balance.

Question 2

Which of the following would generally be considered an indication of future economic concern for a city?

Accepted Answer

A) A decreasing percentage of revenue raised by the city as a proportion of total appraised value of property. 
B) A decreasing percentage of revenue raised by the city as a proportion of median family income. 
C) An increasing population base. 
D) An increasing industrial base in a variety of industries. 
A) A decreasing percentage of revenue raised by the city as a proportion of total appraised value of property. 
B) A decreasing percentage of revenue raised by the city as a proportion of median family income. 
C) An increasing population base. 
D) An increasing industrial base in a variety of industries.

Question 3

The city created a legally separate entity to operate a county hospital.The city council appoints a voting majority of the board of the hospital.The city cannot impose its will on the hospital and there is no potential for a financial benefit or financial burden to the city.The county hospital would be an)

Accepted Answer

A) Primary government. 
B) Component unit. 
C) Related organization. 
D) Affiliated organization. 
A) Primary government. 
B) Component unit. 
C) Related organization. 
D) Affiliated organization.

Fund financial statements include which of the following for a governmental fund?

Which of the following would generally be considered an indication of future economic concern for a city?

The Government and Not-For-Profit Environment

Fund Accounting

Issues of Budgeting and Control

Recognizing Revenues in Governmental Funds

Recognizing Expenditures in Governmental Funds

Accounting for Capital Projects and Debt Service

Capital Assets and Investments in Marketable Securities

Long-Term Obligations

Business-Type Activities

Fiduciary Funds and Permanent Funds

Not-For-Profit Organizations

Colleges and Universities

Health Care Providers

Managing for Results

Auditing Governments and Not-For-Profit Organizations

Federal Government Accounting

Filters

Exam 11: Issues of Reporting, Disclosure, and Financial Analysis

Fund financial statements include which of the following for a governmental fund?

Which of the following would generally be considered an indication of future economic concern for a city?

The Government and Not-For-Profit Environment

Fund Accounting

Issues of Budgeting and Control

Recognizing Revenues in Governmental Funds

Recognizing Expenditures in Governmental Funds

Accounting for Capital Projects and Debt Service

Capital Assets and Investments in Marketable Securities

Long-Term Obligations

Business-Type Activities

Fiduciary Funds and Permanent Funds

Not-For-Profit Organizations

Colleges and Universities

Health Care Providers

Managing for Results

Auditing Governments and Not-For-Profit Organizations

Federal Government Accounting

Filters