Questions from Accounting for Government and Non-Profit


Q: Choose the best answer. 1. Which of the following

Choose the best answer. 1. Which of the following fund type(s) uses the accrual basis of accounting? a. Special revenue. b. Internal service. c. Pension trust. d. Both b and c. 2. Which of the followi...

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Q: Choose the best answer. 1. Some governments have begun

Choose the best answer. 1. Some governments have begun to provide highly condensed financial information, budget summaries, and narrative descriptions, in addition to their traditional CAFR. This type...

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Q: The City of Lynnwood was recently incorporated and had the following transactions

The City of Lynnwood was recently incorporated and had the following transactions for the fiscal year ended December 31, 2011. 1. The city council adopted a General Fund budget for the fiscal year. Re...

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Q: The City of Allenton has engaged you to examine its June 20

The City of Allenton has engaged you to examine its June 20, 2011, financial statements. You are the first CPA ever engaged by the city and you find that the city’s accounting staff...

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Q: You have been provided with the following information concerning operating activity for

You have been provided with the following information concerning operating activity for Leesburg County. For the year ended June 30, 2011, the net change in total governmental fund balances was $131,7...

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Q: You have recently started working as the controller for a small county

You have recently started working as the controller for a small county. The county is preparing its financial statements for the comprehensive annual financial report and you have been given the follo...

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Q: Following is the governmental activities pre-closing trial balance for the

Following is the governmental activities pre-closing trial balance for the Town of Freaz. Freaz is a relatively small town and, as a result, it has only governmental funds (i. e., it uses no proprieta...

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Q: The Village of Rodale keeps its governmental fund accounting records on a

The Village of Rodale keeps its governmental fund accounting records on a modified accrual basis. At the end of the fiscal year, the village accountant must convert the modified accrual information to...

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Q: Describe the fiduciary activities of a state or local government and explain

Describe the fiduciary activities of a state or local government and explain how accounting and financial reporting for fiduciary activities differ from those for governmental and business-type activi...

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Q: Describe some typical causes of municipal financial crises. How could an

Describe some typical causes of municipal financial crises. How could an effective monitoring system reduce the risk of a financial crisis?

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