,DOWNLOAD THE Test Bank for Essentials of Accounting for Governmental and No
k k k k k k k k k k k
t-for-Profit Organizations 14th Edition Copley
k k k k
Student name: k
TRUE/FALSE k-kWritek'T'kif kthekstatementkisktruekandk'F'kif kthekstatementkiskfalse.
1) A k Comprehensivek Annualk Financialk Report k (CAFR)k would kincludekank introductoryk
section,k management'sk discussionk and k analysis,k basick financialk statements,k required k supple
mentaryk informationk otherk thank MD&A,k combiningk and kindividualk fund k statements,k narrati
vek explanations,k and k statisticalk section.
⊚ true
⊚ false
2) Thek threek majork sectionsk of k ak CAFRk arekthekIntroductory,k Financial,k and kStatisticalk s
ections.
⊚ true
⊚ false
3) Thek introductoryk and k statisticalk sectionsk of k ak CAFRk arek required k tok bek audited.
⊚ true
⊚ false
4) Statek and k localk governmentsk arek notkrequired k tok preparek ak CAFR.
⊚ true
⊚ false
5) Combiningk statementsk arek required k wheneverk ak non-
majork columnk isk used k ink onek of k thek fund k financialk statements.
⊚ true
⊚ false
6) A k completek CAFRkincludesk combiningk financialk statementsktok reflect k greaterk detailk of k
nonmajork funds.
⊚ true
⊚ false
Versionk1 1
mynursytest.store
,DOWNLOAD THE Test Bank for Essentials of Accounting for Governmental and No
k k k k k k k k k k k
t-for-Profit Organizations 14th Edition Copley
k k k k
7) Ink additionk tokthek government-
widek statements,k governmentsk arek required ktok preparekfund kfinancialk statementskfork governmental,
k proprietaryk and k fiduciaryk funds.
⊚ true
⊚ false
8) Ink additionk tokthek government-
widek statements,k governmentsk arek required ktok preparekfund kfinancialk statementskfork governmentalk
fundsk only.
⊚ true
⊚ false
9) Thek Generalk Fundk isk notk alwaysk consideredk tok bek ak majork fundk whenk preparingk fundk basisk fi
nancialk statements.
⊚ true
⊚ false
10) Withk respectk tokfundk basisk financialk statements,k governmentalk fundsk arek consideredk tok bek a
k majork fundk whenk totalk assets,k liabilities,k revenuesk and k expendituresk combinedk arek atk least k 10%k of
k thek totalk fork thek governmentalk fundsk category.
⊚ true
⊚ false
11) Withk respect ktok fundk basiskfinancialk statements,k ak government k mayk onlykdesignatek akfundk t
ok bek ak majork fund k if k it k meetsk thek sizek thresholdsk established k byk GASB.
⊚ true
⊚ false
12) Withk respectk tokfundk basisk financialk statements,k ak government k maykdesignatek anyk fundktok b
ek ak majork fund k if k reportingk that k fund k separatelyk would k bek useful.
Versionk1 2
mynursytest.store
, DOWNLOAD THE Test Bank for Essentials of Accounting for Governmental and No
k k k k k k k k k k k
t-for-Profit Organizations 14th Edition Copley
k k k k
⊚ true
⊚ false
13) Whenk preparingk fund k basisk financialk statements,kfundsknot k reported k separatelyk arek
aggregated k and k reported k ink ak singlek columnk underk thek labelk nonmajorkfunds.
⊚ true
⊚ false
14) Whenk preparingk fund k basisk financialk statements,kfundsknot kreportedkseparatelyk arekr
eported k individuallyk byk function.
⊚ true
⊚ false
15) Fiduciaryk fund k statementskarek prepared kusingkthekcurrent kfinancialk resourcesk measurement k f
ocusk and k modified k accrualk basisk of k accounting.
⊚ true
⊚ false
16) Governmentalk fund k statementskarek prepared k usingk thek economick financialk resourcesk
measurement k focusk and k modified k accrualk basisk of k accounting.
⊚ true
⊚ false
17) Accordingk tok thek GASB,k ak primaryk government k cank onlyk bek ak statek ork ak general-
purposek localk government,k suchk ask ak cityk ork county.
⊚ true
⊚ false
18) Blendingk of k financialk informationk isk donekwhenk component k unitsk and k thek primaryk
government k arek sok intertwined k that k theyk arek essentiallyk thek same.
Versionk1 3
mynursytest.store
k k k k k k k k k k k
t-for-Profit Organizations 14th Edition Copley
k k k k
Student name: k
TRUE/FALSE k-kWritek'T'kif kthekstatementkisktruekandk'F'kif kthekstatementkiskfalse.
1) A k Comprehensivek Annualk Financialk Report k (CAFR)k would kincludekank introductoryk
section,k management'sk discussionk and k analysis,k basick financialk statements,k required k supple
mentaryk informationk otherk thank MD&A,k combiningk and kindividualk fund k statements,k narrati
vek explanations,k and k statisticalk section.
⊚ true
⊚ false
2) Thek threek majork sectionsk of k ak CAFRk arekthekIntroductory,k Financial,k and kStatisticalk s
ections.
⊚ true
⊚ false
3) Thek introductoryk and k statisticalk sectionsk of k ak CAFRk arek required k tok bek audited.
⊚ true
⊚ false
4) Statek and k localk governmentsk arek notkrequired k tok preparek ak CAFR.
⊚ true
⊚ false
5) Combiningk statementsk arek required k wheneverk ak non-
majork columnk isk used k ink onek of k thek fund k financialk statements.
⊚ true
⊚ false
6) A k completek CAFRkincludesk combiningk financialk statementsktok reflect k greaterk detailk of k
nonmajork funds.
⊚ true
⊚ false
Versionk1 1
mynursytest.store
,DOWNLOAD THE Test Bank for Essentials of Accounting for Governmental and No
k k k k k k k k k k k
t-for-Profit Organizations 14th Edition Copley
k k k k
7) Ink additionk tokthek government-
widek statements,k governmentsk arek required ktok preparekfund kfinancialk statementskfork governmental,
k proprietaryk and k fiduciaryk funds.
⊚ true
⊚ false
8) Ink additionk tokthek government-
widek statements,k governmentsk arek required ktok preparekfund kfinancialk statementskfork governmentalk
fundsk only.
⊚ true
⊚ false
9) Thek Generalk Fundk isk notk alwaysk consideredk tok bek ak majork fundk whenk preparingk fundk basisk fi
nancialk statements.
⊚ true
⊚ false
10) Withk respectk tokfundk basisk financialk statements,k governmentalk fundsk arek consideredk tok bek a
k majork fundk whenk totalk assets,k liabilities,k revenuesk and k expendituresk combinedk arek atk least k 10%k of
k thek totalk fork thek governmentalk fundsk category.
⊚ true
⊚ false
11) Withk respect ktok fundk basiskfinancialk statements,k ak government k mayk onlykdesignatek akfundk t
ok bek ak majork fund k if k it k meetsk thek sizek thresholdsk established k byk GASB.
⊚ true
⊚ false
12) Withk respectk tokfundk basisk financialk statements,k ak government k maykdesignatek anyk fundktok b
ek ak majork fund k if k reportingk that k fund k separatelyk would k bek useful.
Versionk1 2
mynursytest.store
, DOWNLOAD THE Test Bank for Essentials of Accounting for Governmental and No
k k k k k k k k k k k
t-for-Profit Organizations 14th Edition Copley
k k k k
⊚ true
⊚ false
13) Whenk preparingk fund k basisk financialk statements,kfundsknot k reported k separatelyk arek
aggregated k and k reported k ink ak singlek columnk underk thek labelk nonmajorkfunds.
⊚ true
⊚ false
14) Whenk preparingk fund k basisk financialk statements,kfundsknot kreportedkseparatelyk arekr
eported k individuallyk byk function.
⊚ true
⊚ false
15) Fiduciaryk fund k statementskarek prepared kusingkthekcurrent kfinancialk resourcesk measurement k f
ocusk and k modified k accrualk basisk of k accounting.
⊚ true
⊚ false
16) Governmentalk fund k statementskarek prepared k usingk thek economick financialk resourcesk
measurement k focusk and k modified k accrualk basisk of k accounting.
⊚ true
⊚ false
17) Accordingk tok thek GASB,k ak primaryk government k cank onlyk bek ak statek ork ak general-
purposek localk government,k suchk ask ak cityk ork county.
⊚ true
⊚ false
18) Blendingk of k financialk informationk isk donekwhenk component k unitsk and k thek primaryk
government k arek sok intertwined k that k theyk arek essentiallyk thek same.
Versionk1 3
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