Accounting

Which of the following classifications is not used in the government-wide statem

Which of the following classifications is not used in the government-wide statem

Which of the following classifications is not used in the government-wide statement of activities?
A.   General revenues.
B.   Extraordinary items.
C.   Transfers.
D.   Nonoperating revenues.

goji.go   249   1 Reply

f_zah1

In the statement of activities, depreciation is reported on A.All depreciable

In the statement of activities, depreciation is reported on A.All depreciable

In the statement of activities, depreciation is reported on
A.   All depreciable capital assets of the government except infrastructure assets that use the modified approach.
B.   All depreciable capital assets of the government.
C.   Only

goji.go   184   1 Reply

f_zah1

The government-wide statements include A.Statement of Activities. B.Statement

The government-wide statements include A.Statement of Activities. B.Statement

The government-wide statements include
A.   Statement of Activities.
B.   Statement of Cash Flows.
C.   Statement of Assets and Liabilities
D.   Budget-to-actual statement

goji.go   246   1 Reply

f_zah1

The government-wide statement of net position must include a column for each of

The government-wide statement of net position must include a column for each of

The government-wide statement of net position must include a column for each of the following except
A.   Governmental activities.
B.   Business-type activities.
C.   Component units.
D.   Fiduciary activities.

goji.go   212   1 Reply

f_zah1

Depreciation was calculated for the police department's vehicle fleet. The expen

Depreciation was calculated for the police department's vehicle fleet. The expen

Depreciation was calculated for the police department's vehicle fleet. The expense will be reported
A.   As depreciation expenditure in the General Fund.
B.   As depreciation expense in the General Fund.
C.   As depreciation expense in

goji.go   183   1 Reply

f_zah1

Capital assets are not reported A.In governmental activities. B.In business-t

Capital assets are not reported A.In governmental activities. B.In business-t

Capital assets are not reported
A.   In governmental activities.
B.   In business-type activities.
C.   In the Enterprise Funds.
D.   In the General Fund.

goji.go   201   1 Reply

f_zah1

The government-wide financial statements do not include A.Discretely presented

The government-wide financial statements do not include A.Discretely presented

The government-wide financial statements do not include
A.   Discretely presented component units.
B.   Governmental fund information.
C.   Business-type activities.
D.   Net position.

goji.go   188   1 Reply

f_zah1

A city had the following accounts and amounts on its statement of activities: •

A city had the following accounts and amounts on its statement of activities: •

A city had the following accounts and amounts on its statement of activities:
•   Public safety expenses of $2,755,500
•   Public safety charges for services of $20,500
•   Public safety operating grants and contributions of $105,000
•

goji.go   247   1 Reply

f_zah1

The government-wide financial statements report all of the following equity clas

The government-wide financial statements report all of the following equity clas

The government-wide financial statements report all of the following equity classifications except
A.   Restricted net position.
B.   Retained earnings.
C.   Unrestricted net position.
D.   Net investment in capital assets.

goji.go   178   1 Reply

f_zah1

If the General Fund has restricted fund balance, then the governmental activitie

If the General Fund has restricted fund balance, then the governmental activitie

If the General Fund has restricted fund balance, then the governmental activities column will automatically have
A.   Committed net position.
B.   Restricted net position.
C.   Designated net position.
D.   Net investment in capital asset

goji.go   217   1 Reply

f_zah1

Interest expense for governmental activities at the government-wide level should

Interest expense for governmental activities at the government-wide level should

Interest expense for governmental activities at the government-wide level should be reported
A.   As part of the function for which the financing was beneficial.
B.   As part of the general government function.
C.   In total as capitalized i

goji.go   323   1 Reply

f_zah1

The General Fund levies taxes of $3,750,000 during the fiscal year, 1% of which

The General Fund levies taxes of $3,750,000 during the fiscal year, 1% of which

The General Fund levies taxes of $3,750,000 during the fiscal year, 1% of which is deemed to be uncollectible. $3,650,000 was collected or met the availability criteria. How much revenue should be recorded in the government-wide financial statements?

goji.go   486   1 Reply

f_zah1

A city reports three Pension Trust Funds, one Private-Purpose Trust Fund, one In

A city reports three Pension Trust Funds, one Private-Purpose Trust Fund, one In

A city reports three Pension Trust Funds, one Private-Purpose Trust Fund, one Investment Trust Fund, and three Agency Funds. How many columns would the City's statement of fiduciary net position would report?
A.   Two (2).
B.   Three (3).

goji.go   405   1 Reply

f_zah1

A government issued general obligation bonds to finance the construction of a ne

A government issued general obligation bonds to finance the construction of a ne

A government issued general obligation bonds to finance the construction of a new fire station. In the current year, the government incurred $107,000 of interest expense on the debt. This amount will be reported on the government-wide statement of ac

goji.go   287   1 Reply

f_zah1

Fiduciary funds are reported A.In both the fund financial statements and the go

Fiduciary funds are reported A.In both the fund financial statements and the go

Fiduciary funds are reported
A.   In both the fund financial statements and the government-wide financial statements.
B.   As required supplementary information.
C.   By fund type in the government-wide financial statements.
D.   By fund

goji.go   215   1 Reply

f_zah1

Each of the following would be considered required supplementary information exc

Each of the following would be considered required supplementary information exc

Each of the following would be considered required supplementary information except
A.   Management's discussion and analysis.
B.   Budgetary comparison information that is eligible for basic financial statement presentation but not includ

goji.go   202   1 Reply

f_zah1

Equity in a fiduciary fund is, by nature, considered to be A.Committed. B.Assi

Equity in a fiduciary fund is, by nature, considered to be A.Committed. B.Assi

Equity in a fiduciary fund is, by nature, considered to be
A.   Committed.
B.   Assigned.
C.   Designated.
D.   Restricted.

goji.go   188   1 Reply

f_zah1

A city determines that it has three major governmental funds, including the Gene

A city determines that it has three major governmental funds, including the Gene

A city determines that it has three major governmental funds, including the General Fund, and two major enterprise funds. The city will
A.   Always have three major governmental funds and two major enterprise funds.
B.   Evaluate each year whic

goji.go   161   1 Reply

f_zah1

Assume that a governmental entity has, in addition to the General Fund, four oth

Assume that a governmental entity has, in addition to the General Fund, four oth

Assume that a governmental entity has, in addition to the General Fund, four other governmental funds. Upon applying the quantitative criteria to determine the minimum requirements for major fund reporting it is determined that two of those four fund

goji.go   312   1 Reply

f_zah1

A city has, in addition to the General Fund, three other governmental funds. Two

A city has, in addition to the General Fund, three other governmental funds. Two

A city has, in addition to the General Fund, three other governmental funds. Two of those three governmental funds have been deemed to be major funds. At most, how many funds may be reported as major funds?
A.   One (1).
B.   Two (2).
C.   T

goji.go   254   1 Reply

f_zah1

Major fund reporting is required for which of the following fund types?

Major fund reporting is required for which of the following fund types?

Major fund reporting is required for which of the following fund types?
A.   Enterprise Funds.
B.   Internal Service Funds.
C.   Agency Funds.
D.   Private-Purpose Trust Funds.

goji.go   226   1 Reply

f_zah1

A governmental entity has a General Fund, four Special Revenue Funds, two Debt S

A governmental entity has a General Fund, four Special Revenue Funds, two Debt S

A governmental entity has a General Fund, four Special Revenue Funds, two Debt Service Funds, a Permanent Fund, two Enterprise Funds, three Internal Service Funds, and two Pension Trust Funds. Using the criteria from GASB Statement No. 34 to identify

goji.go   382   1 Reply

f_zah1

Hannah Township has a General Fund, two Capital Projects Funds, one Permanent Fu

Hannah Township has a General Fund, two Capital Projects Funds, one Permanent Fu

Hannah Township has a General Fund, two Capital Projects Funds, one Permanent Fund, two Enterprise Funds, two Internal Service Funds, three Pension Trust Funds, and one Private-Purpose Trust Fund. Assuming all governmental and enterprise funds meet t

goji.go   434   1 Reply

f_zah1

Which of the following funds would not be eligible for major fund reporting?

Which of the following funds would not be eligible for major fund reporting?

Which of the following funds would not be eligible for major fund reporting?
A.   General Fund.
B.   Enterprise Fund.
C.   Debt Service Fund.
D.   Internal Service Fund.

goji.go   190   1 Reply

f_zah1

In the government-wide financial statements, pass-through grants would be report

In the government-wide financial statements, pass-through grants would be report

In the government-wide financial statements, pass-through grants would be reported as
A.   Program revenues.
B.   General revenues.
C.   Other financing sources.
D.   Operating revenues.

goji.go   234   1 Reply

f_zah1

Which of the following types of revenue would always be reported as a general re

Which of the following types of revenue would always be reported as a general re

Which of the following types of revenue would always be reported as a general revenue in the government-wide financial statements?
A.   Interest earned on a capital grant.
B.   Charges for services.
C.   Operating grant.
D.   Property tax

goji.go   275   1 Reply

f_zah1

A county had the following earnings during the year: •Charges for services in p

A county had the following earnings during the year: •Charges for services in p

A county had the following earnings during the year:
•   Charges for services in public works of $289,000
•   Public safety operating grants of $100,000
•   Property taxes of $1,950,000
•   Interest earned on restricted grants of $5,750

goji.go   230   1 Reply

f_zah1

Sales taxes levied by a county government are shared with the local municipal go

Sales taxes levied by a county government are shared with the local municipal go

Sales taxes levied by a county government are shared with the local municipal government. The municipal government chooses to use the intergovernmental revenues for drug enforcement activities. In the government-wide statement of activities, the muni

goji.go   275   1 Reply

f_zah1

Which of the following cannot be classified as program revenues?

Which of the following cannot be classified as program revenues?

Which of the following cannot be classified as program revenues?
A.   Contributions.
B.   Grants.
C.   Charges for services.
D.   Taxes.

goji.go   270   1 Reply

f_zah1

Which of the following would not be classified as charges for services?

Which of the following would not be classified as charges for services?

Which of the following would not be classified as charges for services?
A.   Operating special assessments.
B.   Licenses and permits.
C.   Fines and forfeitures.
D.   A special tax levied for a particular function.

goji.go   202   1 Reply

f_zah1

A government that uses the modified approach to account for qualifying assets sh

A government that uses the modified approach to account for qualifying assets sh

A government that uses the modified approach to account for qualifying assets should report all infrastructure asset related costs for the year as
A.   Expenses.
B.   Assets.
C.   Expenses, unless they were additions or qualitative improveme

goji.go   183   1 Reply

f_zah1

A government that uses the modified approach will A.Report depreciation expense

A government that uses the modified approach will A.Report depreciation expense

A government that uses the modified approach will
A.   Report depreciation expense on infrastructure assets.
B.   Capitalize all costs related to infrastructure assets.
C.   Expense all costs related to infrastructure assets.
D.   Expense

goji.go   408   1 Reply

f_zah1

Topics to be covered in the management’s discussion and analysis A.Are limited

Topics to be covered in the management’s discussion and analysis A.Are limited

Topics to be covered in the management’s discussion and analysis
A.   Are limited to a specific list of topics in GASB Statement No. 34.
B.   Must, at a minimum, cover the specific list of topics in GASB Statement No. 34 but may include additio

goji.go   209   1 Reply

f_zah1

Management’s discussion and analysis A.Does not have to cover any budgetary iss

Management’s discussion and analysis A.Does not have to cover any budgetary iss

Management’s discussion and analysis
A.   Does not have to cover any budgetary issues.
B.   May not include charts and graphs.
C.   Must discuss significant variations between the original budget and the final budget.
D.   May provide spe

goji.go   220   1 Reply

f_zah1

Which of the following statements concerning the notes to the financial statemen

Which of the following statements concerning the notes to the financial statemen

Which of the following statements concerning the notes to the financial statements is true?
A.   The notes to the financial statements are an integral part of the basic financial statements.
B.   The notes to the financial statements are consid

goji.go   152   1 Reply

f_zah1

Which of the following do most governmental entities not integrate into their ge

Which of the following do most governmental entities not integrate into their ge

Which of the following do most governmental entities not integrate into their general ledger accounts?
A.   Governmental fund accounts.
B.   Fiduciary fund accounts.
C.   Government-wide information.
D.   Proprietary fund accounts.

goji.go   205   1 Reply

f_zah1

All of the following transactions could potentially be reconciling items between

All of the following transactions could potentially be reconciling items between

All of the following transactions could potentially be reconciling items between the governmental fund financial statements and government-wide governmental activities column except
A.   The purchase of capital assets.
B.   Accrual of compensat

goji.go   283   1 Reply

f_zah1

If an Internal Service Fund provides 60% of its services to the General Fund and

If an Internal Service Fund provides 60% of its services to the General Fund and

If an Internal Service Fund provides 60% of its services to the General Fund and 40% of its services to an Enterprise Fund, then governmental activities column in the government-wide financial statements will
A.   Include 60% of the capital assets

goji.go   544   1 Reply

f_zah1

When converting the multiple governmental funds to the single entity represented

When converting the multiple governmental funds to the single entity represented

When converting the multiple governmental funds to the single entity represented by the governmental activities in the government-wide financial statements, which of the following adjustments will not be necessary?
A.   Converting the cash account

goji.go   226   1 Reply

f_zah1

Which of the following financial accounting elements is not common to both the g

Which of the following financial accounting elements is not common to both the g

Which of the following financial accounting elements is not common to both the governmental funds and the governmental activities function in the government-wide financial statements?
A.   Cash.
B.   Short-term liabilities.
C.   Deferred inf

goji.go   212   1 Reply

f_zah1