Question 1

Which of the following is true regarding the fiduciary fund financial statements?

Accepted Answer

A)  Fiduciary fund financial statements include the Statement of Fiduciary Net Assets and Statement of Changes in Fiduciary Net Assets. 
B)  Fiduciary fund financial statements are prepared using the current financial resources measurement focus and modified accrual basis of accounting. 
C)  Fiduciary fund financial statements reflect equity as reserved and unreserved. 
D)  Agency funds are reported only on the Statement of Changes in Fiduciary Net Assets. 
A)  Fiduciary fund financial statements include the Statement of Fiduciary Net Assets and Statement of Changes in Fiduciary Net Assets. 
B)  Fiduciary fund financial statements are prepared using the current financial resources measurement focus and modified accrual basis of accounting. 
C)  Fiduciary fund financial statements reflect equity as reserved and unreserved. 
D)  Agency funds are reported only on the Statement of Changes in Fiduciary Net Assets.

Question 2

CAFR stands for:

Accepted Answer

A)  Comprehensive Annual Financial Report 
B)  Comprehensive Annual Fiscal Report 
C)  Cumulative Annual Financing Report 
D)  Comprehensive Accounting Financial Report 
A)  Comprehensive Annual Financial Report 
B)  Comprehensive Annual Fiscal Report 
C)  Cumulative Annual Financing Report 
D)  Comprehensive Accounting Financial Report

Question 3

In addition to the government-wide statements,governments are required to prepare fund financial statements for which of the following category of funds?

Accepted Answer

A)  Proprietary funds 
B)  Governmental type funds 
C)  Fiduciary funds 
D)  All of the above 
A)  Proprietary funds 
B)  Governmental type funds 
C)  Fiduciary funds 
D)  All of the above

Which of the following is true regarding the fiduciary fund financial statements?

CAFR stands for:

In addition to the government-wide statements,governments are required to prepare fund financial statements for which of the following category of funds?

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

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, debt Service, and Permanent

Proprietary Funds

Fiduciary Trustfunds

Government-Wide Statements, capital Assets, long-Term Debt

Advanced Topics for State and Local Governments

Accounting for Private Not-For-Profit Organizations

College and University Accounting

Accounting for Hospitals and Other Health Care Providers

Auditing, tax-Exempt Organizations, and Evaluating Performance

Financial Reporting by the Federal Government

Filters

Exam 2: Overview of Financial Reporting for State and Local Governments

Which of the following is true regarding the fiduciary fund financial statements?

CAFR stands for:

In addition to the government-wide statements,governments are required to prepare fund financial statements for which of the following category of funds?

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

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, debt Service, and Permanent

Proprietary Funds

Fiduciary Trustfunds

Government-Wide Statements, capital Assets, long-Term Debt

Advanced Topics for State and Local Governments

Accounting for Private Not-For-Profit Organizations

College and University Accounting

Accounting for Hospitals and Other Health Care Providers

Auditing, tax-Exempt Organizations, and Evaluating Performance

Financial Reporting by the Federal Government

Filters