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Quiz von Josh Rondestvedt, aktualisiert more than 1 year ago
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Erstellt von Josh Rondestvedt
vor mehr als 7 Jahre
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Frage 1
Frage
What is the most significant single fund maintained by all state and local governments?
Antworten
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Special Revenue Fund
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General Fund
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Debt Service Fund
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Permanent Fund
Frage 2
Frage
How many general funds does the government have?
Antworten
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1
-
2
-
3
-
4
Frage 3
Frage
Other than general purpose local governments, what is the largest local government?
Antworten
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Municipal ties
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Special districts
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Towns/townships
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School districts
Frage 4
Frage
In accounting terms, what is the main goal of a government and NFP?
Antworten
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Maximize profit
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Provide services
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Provide jobs
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Provide rules
Frage 5
Frage
What is the governments main source of revenue?
Antworten
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Voluntary taxes
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Involuntary taxes
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Foreign currency
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Foreign aid
Frage 6
Frage
For the government, what is the most important financial document?
Antworten
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Annual Report
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10-K
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Budget report
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Top Secret documents
Frage 7
Frage
State and local government are able to spend more money than the budget dictates.
Antworten
- True
- False
Frage 8
Frage
In terms of ownership like owning a business, the Government has owners.
Antworten
- True
- False
Frage 9
Frage
NFP are able to issue stocks in which four states?
Antworten
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Minnesota, Wisconsin, Michigan, Oregon
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California, New York, Texas, Florida
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Kansas, Michigan, Wisconsin, Pennsylvania
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Kansas, New York, Michigan, California
Frage 10
Frage
In government accounting, the difference between assets and liabilities cannot be termed "stockholder's equity".
Antworten
- True
- False
Frage 11
Frage
There are three primary standard-setting authorities. Who are they?
Antworten
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FASB, GASB, FASAB
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GASB, FASB, AICPA
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GASB, AICPA, ACC
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SEC, FASB, GGG
Frage 12
Frage
Who are the 3 basic users of governmental accounting information?
Antworten
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Citizenry, Legislative and oversight boards, and Investors and Creditors
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Citizenry, other governments, companies
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Investors, Creditors, Corporations, Users
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Oversight Boards, Investors, Foreign Governments
Frage 13
Frage
According to GASB, how many financial statements do governments need to prepare?
Antworten
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1
-
2
-
3
-
4
Frage 14
Frage
Government-Wide statements are presented on what type of basis?
Antworten
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Full accrual basis
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Modified accrual basis
Frage 15
Frage
Government-wide statements do not include fiduciary funds.
Antworten
- True
- False
Frage 16
Frage
In fund financial statements, what are the 3 main types?
Antworten
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Governmental, Proprietary, and Fiduciary funds
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Governmental, Fiduciary, State funds
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State funds, foreign, and Proprietary funds
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Local, State, and Government funds
Frage 17
Frage
Governmental funds use:
Antworten
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Modified Accrual basis
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Full Accrual basis
Frage 18
Frage
In government funds, the primary measurement focus is
Antworten
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Current financial resources
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Long term resources
Frage 19
Frage
Proprietary and fiduciary funds use:
Antworten
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Modified Accrual basis
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Full accrual basis
Frage 20
Frage
Government-Wide statements focus all economic resources of a government have a long term focus.
Antworten
- True
- False
Frage 21
Frage
Governmental fund statements focus on short-term fiscal accountability.
Antworten
- True
- False
Frage 22
Frage
A government can have several special revenue funds. Also, they are treated as a separate accounting entity.
Antworten
- True
- False
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