Questions from Advanced Accounting


Q: What are the two methods that can be used to account for

What are the two methods that can be used to account for the combination of two or more private not-for-profit entities into a single entity?

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Q: Sunshine NFP, a not-for-profit entity, gains

Sunshine NFP, a not-for-profit entity, gains control over Dancing Bears NFP, another not-for-profit. The acquisition value of Dancing Bears is $2.3 million, but all of its identifiable assets and liab...

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Q: Helping Hand NFP is a private not-for-profit entity

Helping Hand NFP is a private not-for-profit entity that has equipment with a net book value of $1.1 million but a fair value of $1.4 million. Fancy Fingers is a private not-for-profit entity that has...

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Q: What is a third-party payor, and how does the

What is a third-party payor, and how does the presence of such payors affect the financial accounting of a health care entity?

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Q: What are the advantages of operating a business as a partnership rather

What are the advantages of operating a business as a partnership rather than as a corporation? Whatare the disadvantages?

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Q: At what point in the accounting process does the allocation of partnership

At what point in the accounting process does the allocation of partnership income becomesignificant?

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Q: Go to the website www.napico.com and click on

Go to the website www.napico.com and click on “Partnership Financial Information—Click Here.”Then click on “2015 Annual Reports” to access the Form 10-K annual report for Real Estate AssociatesLimited...

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Q: What are the two fund types within the proprietary funds? What

What are the two fund types within the proprietary funds? What types of events does each report?

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Q: What are the four fund types within the fiduciary funds? What

What are the four fund types within the fiduciary funds? What types of events does each report?

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Q: What are the two major divisions reported in government-wide financial

What are the two major divisions reported in government-wide financial statements? What fundsare not reported in these financial statements?

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