Pregunta 1
Pregunta
What is the most significant single fund maintained by all state and local governments?
Respuesta
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Special Revenue Fund
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General Fund
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Debt Service Fund
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Permanent Fund
Pregunta 2
Pregunta
How many general funds does the government have?
Pregunta 3
Pregunta
Other than general purpose local governments, what is the largest local government?
Respuesta
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Municipal ties
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Special districts
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Towns/townships
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School districts
Pregunta 4
Pregunta
In accounting terms, what is the main goal of a government and NFP?
Respuesta
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Maximize profit
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Provide services
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Provide jobs
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Provide rules
Pregunta 5
Pregunta
What is the governments main source of revenue?
Respuesta
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Voluntary taxes
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Involuntary taxes
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Foreign currency
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Foreign aid
Pregunta 6
Pregunta
For the government, what is the most important financial document?
Respuesta
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Annual Report
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10-K
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Budget report
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Top Secret documents
Pregunta 7
Pregunta
State and local government are able to spend more money than the budget dictates.
Pregunta 8
Pregunta
In terms of ownership like owning a business, the Government has owners.
Pregunta 9
Pregunta
NFP are able to issue stocks in which four states?
Respuesta
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Minnesota, Wisconsin, Michigan, Oregon
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California, New York, Texas, Florida
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Kansas, Michigan, Wisconsin, Pennsylvania
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Kansas, New York, Michigan, California
Pregunta 10
Pregunta
In government accounting, the difference between assets and liabilities cannot be termed "stockholder's equity".
Pregunta 11
Pregunta
There are three primary standard-setting authorities. Who are they?
Respuesta
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FASB, GASB, FASAB
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GASB, FASB, AICPA
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GASB, AICPA, ACC
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SEC, FASB, GGG
Pregunta 12
Pregunta
Who are the 3 basic users of governmental accounting information?
Respuesta
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Citizenry, Legislative and oversight boards, and Investors and Creditors
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Citizenry, other governments, companies
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Investors, Creditors, Corporations, Users
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Oversight Boards, Investors, Foreign Governments
Pregunta 13
Pregunta
According to GASB, how many financial statements do governments need to prepare?
Pregunta 14
Pregunta
Government-Wide statements are presented on what type of basis?
Respuesta
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Full accrual basis
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Modified accrual basis
Pregunta 15
Pregunta
Government-wide statements do not include fiduciary funds.
Pregunta 16
Pregunta
In fund financial statements, what are the 3 main types?
Respuesta
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Governmental, Proprietary, and Fiduciary funds
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Governmental, Fiduciary, State funds
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State funds, foreign, and Proprietary funds
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Local, State, and Government funds
Pregunta 17
Pregunta
Governmental funds use:
Respuesta
-
Modified Accrual basis
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Full Accrual basis
Pregunta 18
Pregunta
In government funds, the primary measurement focus is
Pregunta 19
Pregunta
Proprietary and fiduciary funds use:
Respuesta
-
Modified Accrual basis
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Full accrual basis
Pregunta 20
Pregunta
Government-Wide statements focus all economic resources of a government have a long term focus.
Pregunta 21
Pregunta
Governmental fund statements focus on short-term fiscal accountability.
Pregunta 22
Pregunta
A government can have several special revenue funds. Also, they are treated as a separate accounting entity.