Questions from Accounting for Government and Non-Profit

Q: What is conduit debt? Who issues debt through these conduits?

What is conduit debt? Who issues debt through these conduits? Why are governments required to report it only in notes to their financial statements, not on their balance sheets?

Q: What distinguishes moral obligation bonds from other types of debt? Why

What distinguishes moral obligation bonds from other types of debt? Why would one government assume a moral obligation for another government’s bonds?

Q: A city funds the construction of a golf course by issuing $

A city funds the construction of a golf course by issuing $50 million in general obligation bonds. However, it accounts for the golf course in an enterprise fund, and it intends to repay the debt from...

Q: Search online for the CAFR of the city of Charlotte, North

Search online for the CAFR of the city of Charlotte, North Carolina. What is the total loan guarantees for the Community Development Block Grant disclosed in the notes? How does this compare to the ci...

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

Select the best answer. 1. Which of the following is true with respect to bankruptcy? a. Per the federal bankruptcy code, a municipality can be declared bankrupt but not insolvent. b. Many major citi...

Q: Select the best answer. 1. A town signs

Select the best answer. 1. A town signs a 10-year capital lease by which it acquires equipment with a market value of $1 million. The lease incorporates an implicit interest rate of 8 percent per yea...

Q: The Alpine school district engaged in the following transactions in its fiscal

The Alpine school district engaged in the following transactions in its fiscal year ending August 31, 2018. By law, the district is required to establish a capital projects fund to account for school...

Q: What was the city’s largest expenditure for fiscal year 2014? By

What was the city’s largest expenditure for fiscal year 2014? By how much did this increase or decrease since FY 2013? Since FY 2008 (see statistical section)? Can you draw any inferences from this co...

Q: The City of Fairfield issued $100 million of 20-year

The City of Fairfield issued $100 million of 20-year, 6 percent coupon bonds (3 percent per semiannual period) for $89.32 million. The price reflected a yield of 7 percent (3.5 percent period semiannu...

Q: What is the difference between restricted assets and assets limited as to

What is the difference between restricted assets and assets limited as to use?