Questions from Accounting for Government and Non-Profit

Q: With regard to GASB rules for the financial reporting entity, answer

With regard to GASB rules for the financial reporting entity, answer the following: a. Define the financial reporting entity. b. Define and give an example of a primary government. c. Define and g...

Q: With regard to the Comprehensive Annual Financial Report (CAFR):

With regard to the Comprehensive Annual Financial Report (CAFR): a. What are the three major sections? b. List the government-wide statements. Indicate the measurement focus and basis of accountin...

Q: Describe the test for determining whether a governmental fund is a major

Describe the test for determining whether a governmental fund is a major fund. Describe the test for determining whether an enterprise fund is a major fund.

Q: Describe how the cash flow statement of an enterprise fund differs in

Describe how the cash flow statement of an enterprise fund differs in format from the cash flow statements of private sector organizations such as commercial businesses.

Q: Describe the net position classification appearing on the government-wide Statement

Describe the net position classification appearing on the government-wide Statement of Net Position.

Q: The City of Grafton’s records reflected the following budget and actual data

The City of Grafton’s records reflected the following budget and actual data for the General Fund for the fiscal year ended June 30, 2017. 1. Estimated revenues: Taxes (Property)……………………………$3,213,00...

Q: The following information is available for the preparation of the governmentwide financial

The following information is available for the preparation of the governmentwide financial statements for the city of Northern Pines for the year ended June 30, 2017: Expenses: G...

Q: The following General Fund information is available for the preparation of the 

The following General Fund information is available for the preparation of the financial statements for the city of Eastern Shores for the year ended September 30, 2017:...

Q: Appearing below is the subsidiary ledger for the public safety department of

Appearing below is the subsidiary ledger for the public safety department of the City of Boone. After the first month of the year, five entries have been made to the ledger. Describe the most likely...

Q: The Budgetary Comparison Schedule for the City of Vienna appears below.

The Budgetary Comparison Schedule for the City of Vienna appears below. Several items of information are missing (denoted with “?”). Required: a. Determine the...