Test Bank Essentials of Accounting for Governmental and Not-for-Profit Organizations 15th edition by Copley, All Chapters 1-14

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t-for-Profit Organizations 14th Edition Copley
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TRUE/FALSEg-gWriteg'T'gifgthegstatementgisgtruegandg'F'gifgthegstatementgisgfalse.
1) AgComprehensivegAnnualgFinancialgReportg(CAFR)gwouldgincludegangintroductoryg
section,gmanagement'sgdiscussiongandganalysis,gbasicgfinancialgstatements,grequiredgsupple
mentaryginformationgothergthangMD&A,gcombininggandgindividualgfundgstatements,gnarrati
vegexplanations,gandgstatisticalgsection.

⊚ true
⊚ false


2) ThegthreegmajorgsectionsgofgagCAFRgaregthegIntroductory,gFinancial,gandgStatisticalgs
ections.

⊚ true
⊚ false


3) ThegintroductorygandgstatisticalgsectionsgofgagCAFRgaregrequiredgtogbegaudited.

⊚ true
⊚ false


4) StategandglocalggovernmentsgaregnotgrequiredgtogpreparegagCAFR.

⊚ true
⊚ false


5) Combininggstatementsgaregrequiredgwhenevergagnon-
majorgcolumngisgusedgingonegofgthegfundgfinancialgstatements.

⊚ true
⊚ false


6) AgcompletegCAFRgincludesgcombininggfinancialgstatementsgtogreflectggreatergdetailgofg
nonmajorgfunds.

⊚ true
⊚ false


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,DOWNLOAD THE Test Bank for Essentials of Accounting for Governmental and No
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t-for-Profit Organizations 14th Edition Copley
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7) Ingadditiongtogtheggovernment-
widegstatements,ggovernmentsgaregrequiredgtogpreparegfundgfinancialgstatementsgforggovernmental,
gproprietarygandgfiduciarygfunds.




⊚ true
⊚ false


8) Ingadditiongtogtheggovernment-
widegstatements,ggovernmentsgaregrequiredgtogpreparegfundgfinancialgstatementsgforggovernmentalg
fundsgonly.

⊚ true
⊚ false


9) ThegGeneralgFundgisgnotgalwaysgconsideredgtogbegagmajorgfundgwhengpreparinggfundgbasisgfi
nancialgstatements.

⊚ true
⊚ false


10) Withgrespectgtogfundgbasisgfinancialgstatements,ggovernmentalgfundsgaregconsideredgtogbega
gmajorgfundgwhengtotalgassets,gliabilities,grevenuesgandgexpendituresgcombinedgaregatgleastg10%gof


gthegtotalgforgtheggovernmentalgfundsgcategory.




⊚ true
⊚ false


11) Withgrespectgtogfundgbasisgfinancialgstatements,gaggovernmentgmaygonlygdesignategagfundgt
ogbegagmajorgfundgifgitgmeetsgthegsizegthresholdsgestablishedgbygGASB.

⊚ true
⊚ false


12) Withgrespectgtogfundgbasisgfinancialgstatements,gaggovernmentgmaygdesignateganygfundgtogb
egagmajorgfundgifgreportinggthatgfundgseparatelygwouldgbeguseful.


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t-for-Profit Organizations 14th Edition Copley
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⊚ true
⊚ false


13) Whengpreparinggfundgbasisgfinancialgstatements,gfundsgnotgreportedgseparatelygareg
aggregatedgandgreportedgingagsinglegcolumngundergtheglabelgnonmajorgfunds.

⊚ true
⊚ false


14) Whengpreparinggfundgbasisgfinancialgstatements,gfundsgnotgreportedgseparatelygaregr
eportedgindividuallygbygfunction.

⊚ true
⊚ false


15) Fiduciarygfundgstatementsgaregpreparedgusinggthegcurrentgfinancialgresourcesgmeasurementgf
ocusgandgmodifiedgaccrualgbasisgofgaccounting.

⊚ true
⊚ false


16) Governmentalgfundgstatementsgaregpreparedgusinggthegeconomicgfinancialgresourcesg
measurementgfocusgandgmodifiedgaccrualgbasisgofgaccounting.

⊚ true
⊚ false


17) AccordinggtogthegGASB,gagprimaryggovernmentgcangonlygbegagstategorgaggeneral-
purposeglocalggovernment,gsuchgasgagcitygorgcounty.

⊚ true
⊚ false


18) Blendinggofgfinancialginformationgisgdonegwhengcomponentgunitsgandgthegprimaryg
governmentgaregsogintertwinedgthatgtheygaregessentiallygthegsame.



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