Questions from Accounting for Government and Non-Profit


Q: What is the primary role of the Treasury Department's Bureau of Fiscal

What is the primary role of the Treasury Department's Bureau of Fiscal Service?

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Q: The Office of Management and Budget is responsible for granting agencies apportionments

The Office of Management and Budget is responsible for granting agencies apportionments. What are apportionments?

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Q: What should it use as its discount rate in determining its pension

What should it use as its discount rate in determining its pension obligation?

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Q: Government debts may be reported differently in governmental and government-wide

Government debts may be reported differently in governmental and government-wide statements. The Alpine school district engaged in the following transactions in its fiscal year ending August 31, 20Xl....

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Q: What are the four main objectives of federal financial reporting as established

What are the four main objectives of federal financial reporting as established by the FASAB?

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Q: The accounting for BANs depends on events subsequent to year-end

The accounting for BANs depends on events subsequent to year-end. In anticipation of issuing of long-term bonds, a state issues on May 1, 20Xl, $200 million of 60-day BANs to finance highway construct...

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Q: A city signs a three-year licensing agreement with a software

A city signs a three-year licensing agreement with a software company for use of a payroll management system in its electrical utility fund. Annual charges are $10,000 per year. It is the policy of th...

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Q: A city's general fund has an outstanding payable to its electric utility

A city's general fund has an outstanding payable to its electric utility, which is accounted for in an enterprise fund. The utility has a corresponding receivable from the general fund. In the city's...

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

What was the city's largest expenditure for the fiscal year? By how much did this increase or decrease since the prior year? Can you draw any inferences from this comparison as to the efficiency and e...

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Q: For each of the following indicate the type of fiduciary fund in

For each of the following indicate the type of fiduciary fund in which it is most likely the fiduciary activity should be accounted for and reported. 1. Per a trust agreement a state maintains an inve...

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