Either governmental activities or business-type activities column of the government-wide financial statements, depending on whether the internal service fund predominantly serves governmental activities or business-type activities.
  • Which of the following statements is true regarding the basic financial statements of a state or local government?
  • Separate reporting for major funds is needed because
  • Financial information about an internal service fund should be reported in the proprietary fund financial statements and the:
  • Which of the following amounts that are identified at the end of the fiscal year would be classified as a restricted fund balance?
Measurement Focus :Current financial resources Basis of Accounting :modified accrual
  • Which of the following sets of elements are common for both governmental financial statements and for-profit financial statements?
  • The measurement focus and basis of accounting that should be used for the governmental fund financial statements are:
  • Which of the following amounts that are identified at the end of the fiscal year would be classified as a restricted fund balance?
  • Which of the following statements is true regarding the basic financial statements of a state or local government?
A fund is a fiscal entity which is designed to provide reporting that demonstrates conformance with finance-related legal and contractual provisions separately from GAAP reporting.
  • Which of the following sets of elements are common for both governmental financial statements and for-profit financial statements?
  • Which of the following statements is true regarding the basic financial statements of a state or local government?
  • Which of the following statements is true regarding the definition of a fund?
  • Which of the following amounts that are identified at the end of the fiscal year would be classified as a restricted fund balance?
Users of governmental financial statements need to be able to examine funds that represent large dollar amounts of a government's resources and activities.
  • Financial information about an internal service fund should be reported in the proprietary fund financial statements and the:
  • Under the modified accrual basis of accounting:
  • Separate reporting for major funds is needed because
  • Which of the following statements is true regarding the definition of a fund?
Revenues are recognized when current financial resources become measurable and available to pay current-period obligations.
  • Under the modified accrual basis of accounting:
  • Separate reporting for major funds is needed because
  • Which of the following statements is true regarding the definition of a fund?
  • The measurement focus and basis of accounting that should be used for the governmental fund financial statements are:
The fiduciary fund financial statements.
  • The measurement focus and basis of accounting that should be used for the governmental fund financial statements are:
  • Which of the following sets of elements are common for both governmental financial statements and for-profit financial statements?
  • Which of the following amounts that are identified at the end of the fiscal year would be classified as a restricted fund balance?
  • Assets and liabilities of activities for which the government is acting in either an agency or trustee capacity for individuals, organizations, or other governments should be reported in:
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