Exam 2: Principles of Accounting and Financial Reporting for State and Local Governments

Describe the comprehensive annual financial report (CAFR).What are the sections of the report and which components of the organization should it include? Is a CAFR required?

(Essay)

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Question 61

In accounting for state and local governments the modified accrual basis is required for

(Multiple Choice)

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Question 62

An expenditure is an example of what the GASB terms an outflow of resources.

(True/False)

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Question 63

The accrual basis of accounting applicable to proprietary fund types requires that exchange revenues be recognized when

(Multiple Choice)

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Question 64

The governmental funds category includes the General Fund,special revenue funds,debt service funds,capital projects funds,and internal service funds.

(True/False)

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Question 65

Which of the following funds should be used if resources provided by a federal grant must be segregated and used for counseling of youthful offenders?

(Multiple Choice)

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Question 66

Showing 61 - 66 of 66

Describe the comprehensive annual financial report (CAFR).What are the sections of the report and which components of the organization should it include? Is a CAFR required?

In accounting for state and local governments the modified accrual basis is required for

An expenditure is an example of what the GASB terms an outflow of resources.

The accrual basis of accounting applicable to proprietary fund types requires that exchange revenues be recognized when

The governmental funds category includes the General Fund,special revenue funds,debt service funds,capital projects funds,and internal service funds.

Which of the following funds should be used if resources provided by a federal grant must be segregated and used for counseling of youthful offenders?

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

Governmental Operating Statement Accounts Budgetary Accounting

Accounting for Governmental Operating Activitiesillustrative Transactions and Financial Statements

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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