Governmental and Nonprofit Accounting

Governmental and Nonprofit Accounting – DeVry

1. (TCOs A and B) Fiduciary funds are to use which of the following measurement and basis of accounting? (Points : 5)

2. (TCOs A and B) Funds other than the General Fund are required to be considered to be a major fund when (Points : 5)

3. (TCOs A and B) Which of the following is most correct with regard to Managements Discussion and Analysis? (Points : 5)

4. (TCOs B and C) With regards to budgetary reporting by governmental entities, which of the following is not a true statement? (Points : 5)

5. (TCOs B and C) The to record an encumbrance would include which of the following? (Points : 5)

6. (TCOs B and C)) Capital assets that are used by an enterprise fund should be accounted for in the following fund? (Points : 5)

7. (TCO E) When a government acquires general fixed assets under a , how should the asset be recorded in the ? (Points : 5)

8. (TCO E) Which of the following projects would usually be accounted for in a capital projects fund? (Points : 5)

9. (TCO E) Which of the following statements is a true statement regarding the reporting of debt service funds? (Points : 5)

10. (TCO D) Under GASB Statement No. 33, when would a special revenue fund be considered to have satisfied the eligibility requirement of a reimbursement type federal grant? (Points : 5)

11. (TCO E) You are in a staff meeting with the city controller and one of your colleagues was quoted as follows: Capital projects funds are established by a government to account for all plant or equipment acquired by construction. Do you agree with this statement? Why or why not? (Points : 30)

12. (TCOs A and B) How are the major funds of a state or by a governmental entity? (Points : 30)