Questions from Accounting for Government and Non-Profit

Q: The pre-closing trial balance for the Chance County Woodland Park

The pre-closing trial balance for the Chance County Woodland Park Capital Projects Fund is provided on the next page. Required: a. Prepare the June 30, 2017, statement of revenues, expenditures, an...

Q: Identify some differences between business organizations and government/ not-for

Identify some differences between business organizations and government/ not-for-profit organizations.

Q: Choose the best answer. 1. Which of the following

Choose the best answer. 1. Which of the following is a special purpose government? a. The State of Arkansas. b. Greene County. c. Rutgers University. d. Seattle, Washington. 2 Which of the following...

Q: Describe how the reporting objectives for government-wide and governmental fund

Describe how the reporting objectives for government-wide and governmental fund financial statements are different.

Q: Explain the modified accrual basis of accounting. Why is it used

Explain the modified accrual basis of accounting. Why is it used for governmental fund financial statements?

Q: The Beth House Museum is a nongovernmental not-for-profit

The Beth House Museum is a nongovernmental not-for-profit organization. At the annual meeting, one of the new board members said, “I took a couple of accounting classes in college and we can choose to...

Q: What is the primary reason that governmental entities need to use funds

What is the primary reason that governmental entities need to use funds for financial reporting? How are funds established?

Q: Explain the purpose of operational accountability and the purpose of fiscal accountability

Explain the purpose of operational accountability and the purpose of fiscal accountability. Which category of financial statements is most useful in reporting on each of these accountability concepts?...

Q: What is the primary financial reporting objective for not-for-

What is the primary financial reporting objective for not-for-profit organizations? How does this differ from the primary financial reporting objective for a government?

Q: Proprietary fund accounting is more like for-profit accounting than the

Proprietary fund accounting is more like for-profit accounting than the accounting for any other category of fund. Explain why you think this is the case, using the two types of proprietary funds as e...