Exam 4: Accounting for Governmental Operating Activitiesillustrative Transactions and Financial Statements

A properly prepared schedule of revenues,expenditures,and changes in fund balances-budget and actual will include which of the following columns?

(Multiple Choice)

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Question 81

Which of the following types of nonexchange transactions recognize revenue when all the eligibility requirements are met?

(Multiple Choice)

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Question 82

Current financial resources include cash and items such as marketable securities and receivables expected to be converted into cash in the current period or soon enough thereafter to pay current period obligations.

(True/False)

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Question 83

Equipment acquired several years ago by a capital projects fund and reported in the governmental activities statement of net position at a net book value of $2,000 was sold for $1,000 cash.Cash is collected in the General Fund.Journal entries are necessary in the general journals of the

(Multiple Choice)

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Question 84

Property tax revenue is an example of a nonexchange revenue-one in which the government receives value without directly giving equal value in exchange.

(True/False)

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Question 85

Whenever a significant revenue source is restricted for a specific operating purpose,a special revenue fund should be established.

(True/False)

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Question 86

Showing 81 - 86 of 86

A properly prepared schedule of revenues,expenditures,and changes in fund balances-budget and actual will include which of the following columns?

Which of the following types of nonexchange transactions recognize revenue when all the eligibility requirements are met?

Current financial resources include cash and items such as marketable securities and receivables expected to be converted into cash in the current period or soon enough thereafter to pay current period obligations.

Equipment acquired several years ago by a capital projects fund and reported in the governmental activities statement of net position at a net book value of $2,000 was sold for $1,000 cash.Cash is collected in the General Fund.Journal entries are necessary in the general journals of the

Property tax revenue is an example of a nonexchange revenue-one in which the government receives value without directly giving equal value in exchange.

Whenever a significant revenue source is restricted for a specific operating purpose,a special revenue fund should be established.

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Entities

Principles of Accounting and Financial Reporting for State and Local Governments

Governmental Operating Statement Accounts Budgetary Accounting

Accounting for General Capital Assets and Capital Projects

Accounting for General Long-Term Liabilities and Debt Service

Accounting for the Business-Type Activities of State and Local Governments

Accounting for Fiduciary Activitiesagency and Trust Funds

Financial Reporting of State and Local Governments

Analysis of Governmental Financial Performance

Auditing of Governmental and Not-For-Profit Organizations

Budgeting and Performance Measurement

Accounting for Not-For-Profit Organizations

Not-For-Profit Organizationsregulatory, Taxation, and Performance Issues

Accounting for Colleges and Universities

Accounting for Health Care Organizations

Accounting and Reporting for the Federal Government Glossary

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