Questions from Accounting for Government and Non-Profit

Q: Hawkins Township has two component units that it is required to include

Hawkins Township has two component units that it is required to include in its reporting entity. The first, a housing authority, maintains two funds: a general fund and a special revenue fund. The sec...

Q: The following data were drawn from the CAFRs of two northern Virginia

The following data were drawn from the CAFRs of two northern Virginia cities (all dollar amounts are in thousands): 1. Based on the limited data provided, which city has the greater resources on which...

Q: The U.S. Environmental Protection Agency (EPA) requires

The U.S. Environmental Protection Agency (EPA) requires owners of municipal solid waste landfills to demonstrate that they are financially capable of satisfying the costs of closing and subsequently c...

Q: The data that follow were drawn from the city of Boulder,

The data that follow were drawn from the city of Boulder, Colorado’s CAFR. Dates have been changed. They are from two statistical‐section schedules showing the mix...

Q: What are the general criteria that audit organizations use in selecting programs

What are the general criteria that audit organizations use in selecting programs and activities for performance audits?

Q: The following information was taken from the CAFRs of two cities of

The following information was taken from the CAFRs of two cities of approximately the same size in the same state. 1. Compare the financial condition of the two cities based on the following indicator...

Q: You are a CPA in charge of auditing a midsize school district

You are a CPA in charge of auditing a midsize school district. You recognize that the risk of financial failure is dependent as much on factors not reported in the basic financial statements as on fac...

Q: Explain the significance of each of the following ratios. For each

Explain the significance of each of the following ratios. For each of the ratios indicate whether an increase can be interpreted as a sign of (1) increasing or (2) decreasing fiscal strength. Where ap...

Q: Suppose Riverside has unfunded pension liabilities of $15 million and another

Suppose Riverside has unfunded pension liabilities of $15 million and another $15 million in retiree health care liabilities. By way of contrast, Lakeview has unfunded pension liabilities of $4 millio...

Q: Select the best answer. 1. New York State

Select the best answer. 1. New York State has unlimited authority to control and regulate Yonkers as well as all other municipalities within its jurisdiction. Consistent with GASB standards: a. Both...