Questions from Accounting for Government and Non-Profit

Q: Select the best answer. 1. Which of the

Select the best answer. 1. Which of the following should not be included in the introductory section of a city’s CAFR? a. Management’s discussion and analysis b. Letter of transmittal c. Government F...

Q: A city is considering whether and how it should include the following

A city is considering whether and how it should include the following associated organizations in its reporting entity. 1. Its school system, although not a legally separate government, is managed by...

Q: A city’s reporting entity includes the following component units: 1

A city’s reporting entity includes the following component units: 1. A capital projects financing authority purchases capital assets and leases them exclusively to the city. It finances the acquisitio...

Q: The data that follow were taken from the CAFR of Chaseville,

The data that follow were taken from the CAFR of Chaseville, a midsized midwestern city with a population of 82,000. All dollar amounts are in thousands. Total assessed value of property………………………….. $...

Q: A town’s library system is a legally constituted government entity. It

A town’s library system is a legally constituted government entity. It is governed by a 10‐person board. Six of the members are appointed by the town’s council; the other 4 are selected by the other m...

Q: What steps might auditors take to discern the objectives of a program

What steps might auditors take to discern the objectives of a program or activity?

Q: The statements, schedules, tables, and other types of data

The statements, schedules, tables, and other types of data that follow are found in the annual report of a typical municipality. For each of these items indicate whether it would be found in the: • In...

Q: How are the component units presented in the government‐wide financial

How are the component units presented in the government‐wide financial statements?

Q: How are they presented in the fund statements?

How are they presented in the fund statements?

Q: Has the government entered into any joint ventures? If so,

Has the government entered into any joint ventures? If so, how are they reported?