Questions from Accounting for Government and Non-Profit


Q: Although proprietary funds are often compared to for-profit businesses,

Although proprietary funds are often compared to for-profit businesses, there are several differences between accounting for proprietary funds and accounting for a for-profit organization. Identify an...

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Q: What are the three components of net position provided by GASB?

What are the three components of net position provided by GASB? Describe how a government assigns amounts to the classifications.

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Q: What is the accounting treatment if an internal service fund recovers more

What is the accounting treatment if an internal service fund recovers more or less than the costs incurred by the fund?

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Q: When do GASB standards require inter fund receivables and payables to be

When do GASB standards require inter fund receivables and payables to be reported as Internal Balances?

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Q: The city manager of University City is finalizing the budget proposal that

The city manager of University City is finalizing the budget proposal that must be submitted to the city council 60 days prior to the July 1 start of the next fiscal year, FY 20X2. An economic recessi...

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Q: What are regulatory accounting principles and how do they relate to enterprise

What are regulatory accounting principles and how do they relate to enterprise fund accounting?

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Q: Explain the distinction(s) between agency funds and trust funds

Explain the distinction(s) between agency funds and trust funds. What financial statements are prepared for each?

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Q: Compare the accounting for pension expenditures in a governmental fund with the

Compare the accounting for pension expenditures in a governmental fund with the accounting for pension expenses at the government-wide level.

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Q: Describe the basic activities conducted by a tax agency fund. What

Describe the basic activities conducted by a tax agency fund. What are some of the issues that make tax agency fund accounting complex?

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Q: Explain how the financial reporting of fiduciary funds differs from that of

Explain how the financial reporting of fiduciary funds differs from that of governmental funds.

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