Test Bank – Essentials of Accounting for Governmental and Not-for-Profit Organizations, 15th Edition – Paul A. Copley – ISBN 9781265618902 (Chapters 1–14 Covered)

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Essentials of Accounting for
Governmental and Not-for-Profit
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Organizations, 15th Edition
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TEST BANK
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Paul A. Copley
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Comprehensive Test Bank for Instructors
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and Students
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9781265618902
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© Paul A. Copley. All rights reserved.
Reproduction or distribution without permission is
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prohibited.




© MEDCONNOISSEUR

, TABLE OF CONTENTS

Test Bank – Essentials of Accounting for Governmental and Not-for-Profit Organizations (15th Ed.)
Author: Paul A. Copley
ISBN: 9781265618902
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PART I: INTRODUCTION AND STATE/LOCAL GOVERNMENT FOUNDATIONS

Chapter 1: Introduction to Accounting and Financial Reporting for Governmental and Not-for-Profit
Organizations
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Chapter 2: Overview of Financial Reporting for State and Local Governments
Chapter 3: Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary
Authority

PART II: GOVERNMENTAL FUND ACCOUNTING
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Chapter 4: Accounting for the General and Special Revenue Funds
Chapter 5: Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and
Permanent
Chapter 6: Proprietary Funds
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Chapter 7: Fiduciary Funds

PART III: REPORTING, ASSETS, AND ADVANCED TOPICS

Chapter 8: Government-wide Statements, Capital Assets, and Long-Term Debt
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Chapter 9: Advanced Topics for State and Local Governments

PART IV: NOT-FOR-PROFIT AND SPECIALIZED ENTITY ACCOUNTING

Chapter 10: Accounting for Private Not-for-Profit Organizations
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Chapter 11: College and University Accounting
Chapter 12: Accounting for Hospitals and Other Health Care Providers

PART V: AUDITING, PERFORMANCE, AND FEDERAL REPORTING

Chapter 13: Auditing, Tax-Exempt Organizations, and Evaluating Performance
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Chapter 14: Financial Reporting by the Federal Government
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, Essentials of Accounting for Governmental and Not-for-Profit Organizations 15e
Copley - Complete test bank


Chap 01 15e Copley Answers Included ✅
1) The Governmental Accounting Standards Board sets financial reporting standards for all
units of government: federal, state, and local.
⊚ true
⊚ false
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2) Fund accounting exists primarily to provide assurance that resources are used according to
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legal or donor restrictions.
⊚ true
⊚ false



3) The Financial Accounting Standards Board sets financial reporting standards for profit-
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seeking businesses and nongovernmental, not-for-profit organizations.
⊚ true
⊚ false
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4) FASAB, GASB, and FASB standards are set forth primarily in documents called statements.
⊚ true
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⊚ false



5) FASAB, GASB, and FASB reporting standards are set forth primarily in documents called
concept statements.
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⊚ true
⊚ false



6) The FASAB was established to recommend accounting and financial reporting standards for
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the federal government.
⊚ true
⊚ false
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, 7) The GASB does not require supplementary information to be reported with its financial
statements even if it is essential to establish appropriate context for the financial statements
and notes.
⊚ true
⊚ false
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8) The Financial Accounting Standards Board sets financial reporting standards for private not-
for-profits and investor-owned businesses.
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⊚ true
⊚ false



9) An organization is presumed to be governmental if it has the ability to issue directly debt that
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is exempt from federal taxes.
⊚ true
⊚ false
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10) The Financial Accounting Standards Board and the Governmental Accounting Standards
Board are parallel bodies under the oversight of the Financial Accounting Foundation.
⊚ true
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⊚ false



11) The Federal Accounting Standards Advisory Board requires less extensive reports than does
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the FASB or GASB.
⊚ true
⊚ false
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12) The FASAB requires more financial statements than are typically required of state and local
governments.
⊚ true
⊚ false
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