Questions from Accounting for Government and Non-Profit

Q: Review the financial statements of the University of Virginia in Table 13

Review the financial statements of the University of Virginia in Table 13-1 of the text. 1. For purposes of internal accounting, the university maintains several funds. Why must the university maintai...

Q: Select the best answer. 1. For purposes of

Select the best answer. 1. For purposes of external reporting, private colleges and universities a. Must adhere to all applicable FASB pronouncements b. Must adhere to all applicable GASB pronounceme...

Q: Select the best answer. 1. In June 2017

Select the best answer. 1. In June 2017, a public university bills and collects $30 million in tuition for the summer semester that runs from June 1 through July 15. In addition, in May and June it b...

Q: Although universities may be characterized by transactions not typically engaged in by

Although universities may be characterized by transactions not typically engaged in by other types of entities, most can be accounted for within the framework applicable to not-for-profit organization...

Q: What are the major categories of revenues and expenses for a health

What are the major categories of revenues and expenses for a health care organization?

Q: Bronxville College maintains a loan fund of approximately $1 million (

Bronxville College maintains a loan fund of approximately $1 million (including receivables). The funds are invested in stocks and bonds, and all investment income must be added to the balance in the...

Q: Mr. Griffin Smith donated $3,500,000 to

Mr. Griffin Smith donated $3,500,000 to the University of Baton Rouge (a government university) with the stipulation that earnings of the first 10 years be used to provide scholarship for social entre...

Q: Please go to the Internet and obtain the financial report for the

Please go to the Internet and obtain the financial report for the most recent year available of the following two (a public and a private) universities. 1. University of North Carolina at Chapel Hill...

Q: Members of the National Accounting Association, a not-for-

Members of the National Accounting Association, a not-for-profit organization, are charged annual dues of $150. Of this amount, $50 is restricted, per association policy, for covering the cost of the...

Q: It is sometimes said that performance audits are not “true”

It is sometimes said that performance audits are not “true” audits in that they are conceptually different from traditional financial audits. In what way are they conceptually different?