687829
Descripción
Test por turquoise_cat, actualizado hace más de 1 año
|
Creado por turquoise_cat
hace más de 10 años
|
|
Pregunta 1
Pregunta
Which of the following trends is most likely to be a signal of impending fiscal stress?
Respuesta
-
An increasing ratio of own source revenues to total revenues.
-
A decreasing ratio of total revenues to total expenditures.
-
A decreasing ratio of debt service expenditures to operating revenues.
-
A decreasing ratio of operating expenditures to total revenues.
Pregunta 2
Pregunta
Which of the following ratios would be most helpful in assessing the operating position of a governmental entity?
Respuesta
-
Net tax-supported long-term debt/population.
-
Own source revenues/total revenues.
-
Debt service expenditures/total expenditures.
-
General fund balance/operating revenues.
Pregunta 3
Pregunta
The term that is closely related to the concept of liquidity is
Respuesta
-
Financial condition.
-
Interperiod equity.
-
Financial position.
-
Economic condition.
Pregunta 4
Pregunta
Which of the following ratios would be considered favorable if it was low?
Respuesta
-
Total revenues to population.
-
Debt service to total revenues.
-
Capital outlay from operating funds to operating expenditures.
-
Cash and short-term investments to current liabilities.
Pregunta 5
Pregunta
A measure of whether the government lived within its means in the measurement year, or was required to use prior year resources to fund a portion of current year costs, or shifted the funding of some current year costs to future periods, is
Respuesta
-
Business-type activities revenues/business-type activities expenses.
-
Unrestricted net position/total revenues.
-
Total revenues/total expenditures.
-
Total net position (governmental activities and business-type activities) less total net position at the beginning of the year.
Pregunta 6
Pregunta
A term that describes a government's ongoing ability and willingness to raise revenues, incur debt, and meet its financial obligations as they become due is
Respuesta
-
Financial condition.
-
Fiscal capacity.
-
Economic condition.
-
Financial position.
Pregunta 7
Pregunta
For which of the following is a low or decreasing value of the item associated with a stronger financial condition of a governmental entity?
Respuesta
-
Unfunded pension liability.
-
Property values.
-
Home ownership.
-
Employment rate.
Pregunta 8
Pregunta
A financial capability ratio that measures the degree to which the annual budget is loaded with disbursements to pay off long-term debt is:
Respuesta
-
Revenue dispersion.
-
Debt service load.
-
Financing margin-bonded debt per capita.
-
Financing margin-legal debt limit.
Pregunta 9
Pregunta
Which of the following is not a typical reason why people evaluate a government's financial condition?
Respuesta
-
Prevent financial crises from developing.
-
Hold management accountable for the use of tax revenues.
-
Determine if the government can continue to offer the current level of services.
-
Determine whether residents will receive dividends.
Pregunta 10
Pregunta
All of the following are appropriate benchmarks for a state or local government to use as a basis for comparing performance except
Respuesta
-
A government's own operating results and financial position from prior years.
-
International City/County Management Association's Financial Trend Monitoring System results for governments of similar types and size.
-
Federal agencies' financial information for a comparable time period.
-
Socioeconomic and demographic trends of governments of similar types and size available from U.S. Census Bureau.
Pregunta 11
Pregunta
Early warning systems to identify trends or practices that may adversely impact the long- and short-term solvency of a government are:
Respuesta
-
Effective if they help decision makers assess solvency; i.e., cash solvency, budgetary solvency, long-run solvency, and service-level solvency.
-
Used by government managers as well as credit analysts, oversight bodies, and other decision makers.
-
As important today as it they were when the International City/County Management Association (ICMA) developed such a monitoring system in 1980
-
All of the statements are true.
Pregunta 12
Pregunta
GASB defines the probability that a government will meet its financial and service obligations to various constituents, both currently and in the future, as:
Respuesta
-
Economic condition.
-
Fiscal capacity.
-
Financial condition.
-
Financial position.
Pregunta 13
Pregunta
The term used by the GASB to describe the short-term financial concept readily determined from the financial statements of governmental funds is:
Respuesta
-
Economic condition.
-
Financial position.
-
Fiscal capacity.
-
Financial condition.
Pregunta 14
Pregunta
The GASB has tentatively decided to use of the term economic condition as a broad concept that includes all of the following components except:
Respuesta
-
Financial condition.
-
Fiscal capacity.
-
Financial position.
-
Service capacity.
Pregunta 15
Pregunta
Which type of solvency indicates a government's ability to generate enough revenue over a normal period to meet its expenditures and not incur deficits?
Respuesta
-
Cash solvency.
-
Budgetary solvency.
-
Long-run solvency.
-
Service-level solvency.
Pregunta 16
Pregunta
The Financial Trend Monitoring System lists political culture, such as attitudes towards taxes, and the political process as examples of:
Respuesta
-
Financial factors.
-
Environmental factors.
-
Organizational factors.
-
Business factors.
Pregunta 17
Pregunta
Condition of the capital plant, as measured by maintenance effort and capital outlay, is an example in the Financial Trend Monitoring System of:
Respuesta
-
Financial factors.
-
Environmental factors.
-
Organizational factors.
-
Management practices and legislative policies.
Pregunta 18
Pregunta
Management practices and legislative policies of a government are:
Respuesta
-
Critical determinants of its financial condition.
-
Difficult to measure.
-
Examples of organizational factors affecting financial condition.
-
All of the statements are correct.
Pregunta 19
Pregunta
An argument for presenting a comprehensive annual financial report (CAFR) in addition to the basic financial statements is:
Respuesta
-
Generally accepted accounting principles require a CAFR to be prepared by governments.
-
The complex nature of financial condition and lack of a "bottom-line" performance measure for governments makes all three sections of the CAFR useful for decision makers.
-
Narrative information is always better than mere financial statements.
-
The management's discussion and analysis included in a CAFR provides useful information not available in the basic financial statements or required supplementary information.
Pregunta 20
Pregunta
The use of benchmarks to aid interpretation of state and local government ratios for performance analysis can best be described as:
Respuesta
-
More widespread for government-wide statements than for fund statements.
-
Comparable across states as all local government structures are the same across the country.
-
Most easily done by comparing one government to itself over time.
-
Easy since data sources useful for comparing one government to its peers are readily available.
Pregunta 21
Pregunta
An advantage of government-wide financial statements required under the GASB reporting model is:
Respuesta
-
Basic financial statements, such as the government-wide statements, use modified accrual accounting and focus on fiscal accountability.
-
They show the revenues and expenditures for all governmental, business-type, and fiduciary activities.
-
Fund financial statements do not use the accrual basis of accounting and as such are not useful.
-
Questions not easily addressed with disaggregated fund financial statements can be answered.
Pregunta 22
Pregunta
For which of the following indicators is a low or decreasing value of the ratio associated with a stronger economic condition?
Respuesta
-
The ratio of capital outlays to total operating expenditures.
-
The ratio of net revenues to total expenses.
-
The ratio of General Fund spendable fund balances to operating revenues.
-
The ratio of debt to assessed property values.
Pregunta 23
Pregunta
For which of the following indicators is a trend of decreasing values for the ratio associated with a weaker economic condition?
Respuesta
-
The ratio of one-time revenues to operating revenues.
-
The ratio of pension obligations to salaries and wages.
-
The ratio of revenues to debt principal and interest payments.
-
The ratio of current liabilities to operating revenue.
Pregunta 24
Pregunta
Which of the following items describes a measure of the change from the prior period in total net position of the government as a whole for governmental and business-type activities (BTA)?
Respuesta
-
Total ending net position (governmental activities and BTA) less total beginning net position (governmental activities and BTA).
-
Total revenue divided by total expenses.
-
Unrestricted net position divided by total revenue.
-
BTA service charge revenues divided by BTA total expenses.
Pregunta 25
Pregunta
Which ratio measures the degree to which the government's total assets have been funded with debt, indicating the extent of true ownership of government assets?
Respuesta
-
Total revenues divided by total expenses.
-
Total debt divided by total assets.
-
Current assets divided by current liabilities.
-
Total ending net position less total beginning net position.
Pregunta 26
Pregunta
Which ratio measures the government's ability to meet its current financial obligations from available cash and equivalents?
Respuesta
-
Total revenue divided by total expenses.
-
Current assets divided by current liabilities.
-
Business-type activities revenue divided by business-type activity expenses.
-
Each revenue source divided by total revenue.
Pregunta 27
Pregunta
A citizen watch group is concerned that the bond investors and lenders might try to take over and run the city. Which performance measure best addresses whether the government can pay its bond investors and lenders on time so the group's concerns are groundless?
Respuesta
-
Debt service coverage.
-
Liquidity.
-
Financing margin.
-
Self-sufficiency.
Pregunta 28
Pregunta
Which of the following is a true statement about information used by decision makers in evaluating governments' financial performance?
Respuesta
-
Internal managers do not have access to as much information as do credit analysts.
-
Internal managers have an informational advantage over credit analysts with respect to their own governments.
-
Internal managers have an informational advantage over bond rating agency analysts with respect to benchmark information.
-
None of the statements are true.
Pregunta 29
Pregunta
A composite reading of the financial health of a government can be useful for:
Respuesta
-
Assisting decision makers to compare the government's financial health over time.
-
Assisting government managers to compare its financial health to other governments.
-
Credit analysts who are comparing a government's financial health to one another.
-
All of the statements are ways that a composite reading can be useful.
Pregunta 30
Pregunta
A General Fund operating deficit as a percentage of operating revenues and transfers:
Respuesta
-
Will be negative indicating that the budget will be out of balance.
-
May be positive.
-
May not indicate a problem if the total of spendable fund balances is adequate to cover the difference.
-
None of the above.
¿Quieres crear tus propios Tests gratis con GoConqr? Más información.