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

The County created a legally separate County Hospital authority.Members of the board of the County Hospital are elected in county-wide elections.The hospital receives no financial support from the County, except that the County pays the hospital bills for county indigents.All revenues of the Hospital are user fees.The County Hospital would be considered an

Which of the following is generally considered to be a positive fiscal characteristic for a City?

The City created a legally separate Port Authority.Members of the board of the Port Authority are elected in general city elections.The Port Authority receives no tax dollars; it is supported entirely by user fees.The Port Authority determines its budget, sets user fees, and has the power to issue bonded debt.In what manner would the Port Authority be included in the City's Basic Financial Statements?

For a government that elects to capitalize infrastructure, RSI does not include which of the following?

The introductory section of a CAFR includes which of the following?

Governments must combine their blended component units into both the fund and government-wide statements.

The City created a legally separate Housing Authority to provide low-income housing to residents of the City.The City issues debt for the Housing Authority in the name of the City, but the Housing Authority is responsible for repayment of the debt.The Housing Authority is governed by a board composed of all 5 members of the City Council.The Authority can take action based on the affirmative vote of a simple majority of the board.In what manner would the Authority be included in the City's Basic Financial Statements?

The County created a legally separate County Hospital authority.Members of the board of the County Hospital are elected in county-wide elections.The County must approve the budget of the Hospital, but the hospital receives no financial support from the County, except that the County pays the hospital bills for county indigents.All revenues of the Hospital are user fees.The County Hospital would be considered an

The financial reporting entity is composed of

Fund financial statements for fiduciary funds include which of the following?

Required notes are an essential element of the basic financial statements.

Of the following powers possessed by Government A, which is an indication that Government A can impose its will on Government B? Government A:

A Comprehensive Annual Financial Report for the City of Highland Hills need not include which of the following sections?