Test Bank For Accounting for Governmental & Nonprofit Entities Jacqueline Reck 18 Edition

Digital item No Waiting Time Instant DownloadISBN10: 1260809951 ISBN13: 9781260809954

In Stock

Original price was: $55.00.Current price is: $22.00.

Compare
SKU:000786000349

Test Bank For Accounting for Governmental & Nonprofit Entities Jacqueline Reck 18 Edition

Accounting for Governmental and Nonprofit Entities, 18e (Reck)

Chapter 2   Principles of Accounting and Financial Reporting for State and Local Governments

1) According to the guidance of GASB Concepts Statement 3, financial information can be communicated by recognition in the financial statements, disclosure in the notes to the financial statements, presentation as required supplementary information, or presentation as supplementary information.

2) According to GASB Concepts Statement 1 a primary objective of financial reports is to provide information useful in determining the accountability of the government.

3) Activities a local government can engage in are classified as governmental, business-type, or fiduciary.

4) Governmental funds are identical to governmental activities, proprietary funds are identical to business-type activities, and fiduciary funds are identical to fiduciary activities of a government.

5) Only those governmental and proprietary funds that meet the GASB size criteria for major funds are reported in separate columns of the governmental and proprietary fund financial statements.

6) Economic resources are cash or items expected to be converted into cash during the current period, or soon enough thereafter to pay current period liabilities.

7) Governmental funds account for assets but not the liabilities.

8) The types of funds that may be used in governmental accounting are classified into the three categories of governmental, proprietary, and fiduciary.

9) The governmental funds category includes the General Fund, special revenue funds, debt service funds, capital projects funds, and internal service funds.

10) Governments can, in part, demonstrate operational accountability by reporting proprietary and fiduciary fund financial information, as well as all government-wide financial information, using an economic resources measurement focus and the accrual basis of accounting.

11) All capital assets acquired by or used by a fund should be reported in the fund balance sheet or statement of net position.

12) Because budgetary accounts are used by governments, government financial statements can never be said to be in accord with generally accepted accounting principles.

13) The maximum sets of fund financial statements a government would present are three.

14) When revenues are legally restricted by external resource providers or committed by enabling legislation for particular operating purposes, a private purpose trust fund is created.

15) A debt service fund is used to account for financial resources segregated for the purpose of making principal and interest payments on general long-term debt.

16) A deferred inflow of resources is defined as “an acquisition of net assets by the government that is applicable to a future reporting period.”

17) Expenditures are never recorded in governmental funds.

18) Deferred outflow of resources is a type of asset that is unique to government.

19) Revenues is an example of what the GASB terms an inflow of resources.

20) An expenditure is an example of what the GASB terms an outflow of resources.

Bestsellers

Test Bank For Accounting Information for Business Decisions 2nd Edition by Billie Cunningham

Original price was: $55.00.Current price is: $28.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN: 9780170253703

Test Bank For Accounting for Governmental and Nonprofit Entities 17th Edition By Reck and Lowensohn

Original price was: $55.00.Current price is: $33.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-13: 978-0078025822 ISBN-10: 0078025826

Test Bank For Accounting for Governmental & Nonprofit Entities Jacqueline Reck 18 Edition

Original price was: $55.00.Current price is: $22.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN10: 1260809951 ISBN13: 9781260809954

Test Bank For Accounting for Governmental & Nonprofit Entities 17th edition by reck

Original price was: $55.00.Current price is: $25.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-13: 978-0078025822 ISBN-10: 0078025826

Managerial Accounting Canadian 10th Edition by Garrison - Test Bank

Original price was: $55.00.Current price is: $35.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10: 1259024903 ISBN-13: 78-1259024900Publisher ‏ : ‎ Mcgraw - Hill RyersonAuthor: Garrison

Test Bank For Accounting for Decision Making and Control Jerald Zimmerman 10 Edition

Original price was: $55.00.Current price is: $40.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-13: 978-1259969492 ISBN-10: 1259969495

Accounting Principles 7Th Canadian Edition Volume 2 By Jerry J. Weygandt

Original price was: $55.00.Current price is: $25.00.
(0 Reviews)
 ISBN 9781119254102, 1119254108 Publisher John Wiley & Sons (Canada) Author(s) Jerry J. Weygandt; Donald E. Kieso; Paul D. Kimmel; Barbara Trenholm; Valerie Warren; Lori Novak Edition 7 V 2

 

 

Product has been added to your cart