Exam 1: Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations

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The modified approach for infrastructure requires schedules and disclosures to be included in which part of the CAFR?

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Management's Discussion and Analysis (MD&A) in The Comprehensive Annual Financial Report (CAFR) is part of the Introductory Section

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Which of the following is true regarding the Comprehensive Annual Financial Report (CAFR)?

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List the fund financial statements required by GASB Statement 34 for governmental type funds.

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The statistical section typically presents ____ years of information in each table or schedule.

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List the fund financial statements required by GASB Statement 34 for proprietary type funds.

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Which of the following is true regarding the Comprehensive Annual Financial Report?

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Which of the following is included in Required Supplementary Information (RSI)?

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An example of an expenditure classification by function would be:

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GASB Statement 34 requires supplementary information (RSI) for what two major areas?

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Which of the following is true regarding the government-wide financial statements?

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