Essentials of Accounting for Governmental
and Not-for-Profit Organizations 14th
Edition Copley TEST BANK
Version 1 1
,1) Governmental funds include:
A) Special revenue funds.
B) Internal service funds.
C) Enterprise funds.
D) Custodial funds.
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-04 Define the 11 fund types used by state and local governments.
Topic : Fund Structure for State and Local Government Accounting and Reporting
2) Which of the following has established a "Hierarchy of GAAP":
A) Financial Accounting Standards Board.
B) Federal Accounting Standards Advisory Board.
C) Governmental Accounting Standards Board.
D) All of the choices have established a hierarchy.
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-03 Identify the sources of authoritative accounting standards for various pub
Topic : Sources of GAAP
3) The term "proprietary funds" applies to:
Version 1 2
, A) all funds that use accrual accounting.
B) enterprise and internal service funds only.
C) enterprise, internal service, and private-purpose trust funds.
D) none of the choices are correct.
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-04 Define the 11 fund types used by state and local governments.
Topic : Fund Structure for State and Local Government Accounting and Reporting
4) The term "fiduciary funds" applies to:
A) enterprise and internal service funds.
B) private-purpose trust, investment trust, pension trust and custodial funds.
C) pension, investment trust and enterprise funds.
D) enterprise, internal service, and private-purpose trust funds.
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-04 Define the 11 fund types used by state and local governments.
Topic : Fund Structure for State and Local Government Accounting and Reporting
5) The GASB sets accounting standards for all of the following except:
A) State and local governments.
B) Component units owned or controlled by governments.
C) Governmentally related not-for-profit universities.
D) Nongovernmental not-for-profit hospital.
Version 1 3
, Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-03 Identify the sources of authoritative accounting standards for various pub
Topic : Sources of GAAP
6) Which of the following fund types is present in every general-purpose government?
A) Permanent
B) Special revenue
C) General
D) Capital projects
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-04 Define the 11 fund types used by state and local governments.
Topic : Fund Structure for State and Local Government Accounting and Reporting
7) Which of the following is a proprietary fund?
A) Internal service
B) Investment trust
C) Permanent
D) Special revenue
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-04 Define the 11 fund types used by state and local governments.
Topic : Fund Structure for State and Local Government Accounting and Reporting
Version 1 4
and Not-for-Profit Organizations 14th
Edition Copley TEST BANK
Version 1 1
,1) Governmental funds include:
A) Special revenue funds.
B) Internal service funds.
C) Enterprise funds.
D) Custodial funds.
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-04 Define the 11 fund types used by state and local governments.
Topic : Fund Structure for State and Local Government Accounting and Reporting
2) Which of the following has established a "Hierarchy of GAAP":
A) Financial Accounting Standards Board.
B) Federal Accounting Standards Advisory Board.
C) Governmental Accounting Standards Board.
D) All of the choices have established a hierarchy.
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-03 Identify the sources of authoritative accounting standards for various pub
Topic : Sources of GAAP
3) The term "proprietary funds" applies to:
Version 1 2
, A) all funds that use accrual accounting.
B) enterprise and internal service funds only.
C) enterprise, internal service, and private-purpose trust funds.
D) none of the choices are correct.
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-04 Define the 11 fund types used by state and local governments.
Topic : Fund Structure for State and Local Government Accounting and Reporting
4) The term "fiduciary funds" applies to:
A) enterprise and internal service funds.
B) private-purpose trust, investment trust, pension trust and custodial funds.
C) pension, investment trust and enterprise funds.
D) enterprise, internal service, and private-purpose trust funds.
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-04 Define the 11 fund types used by state and local governments.
Topic : Fund Structure for State and Local Government Accounting and Reporting
5) The GASB sets accounting standards for all of the following except:
A) State and local governments.
B) Component units owned or controlled by governments.
C) Governmentally related not-for-profit universities.
D) Nongovernmental not-for-profit hospital.
Version 1 3
, Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-03 Identify the sources of authoritative accounting standards for various pub
Topic : Sources of GAAP
6) Which of the following fund types is present in every general-purpose government?
A) Permanent
B) Special revenue
C) General
D) Capital projects
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-04 Define the 11 fund types used by state and local governments.
Topic : Fund Structure for State and Local Government Accounting and Reporting
7) Which of the following is a proprietary fund?
A) Internal service
B) Investment trust
C) Permanent
D) Special revenue
Question Details
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Learning Objective : 01-04 Define the 11 fund types used by state and local governments.
Topic : Fund Structure for State and Local Government Accounting and Reporting
Version 1 4
