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University Of Michigan-Dearborn - ACC 439
  • 36 Pages Chap002
    Chap002

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 2 Overview of Financial Reporting for State and Local Governments True/False Questions 1. In addition to the government-wide statements, governments are required to prepare fund financial statements for proprietary funds only. Answer: False 2. In

  • 34 Pages Chap003
    Chap003

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 3 Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority True/False Questions 1. Net resources of a governmental fund represented by prepaid insurance is an example of a nonspendable fund balance Answer: True 2. A

  • 21 Pages Chap014
    Chap014

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 14 Financial Reporting by the Federal Government True / False Questions 1. Accounting standards for the federal government and its agencies are established by the Governmental Accounting Standards Board. Answer: False 2. Accounting standards for t

  • 33 Pages Chap013
    Chap013

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 13 Auditing, Tax Exempt Organizations, and Evaluating Performance True/False Questions 1. Net Asset classification for a tax-exempt organization are consistent with GASB standards Answer: False 2. The Taxpayer Bill of Rights requires tax-exempt or

  • 42 Pages Chap006
    Chap006

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 6 Proprietary Funds True/False Questions 1. Proprietary funds are used to account for activities similar to those engaged in profitseeking businesses. Answer: True 2. Financial statements for proprietary funds are similar in many respects to those

  • 35 Pages Chap004
    Chap004

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 4 Accounting for the General and Special Revenue Funds True/False Questions 1.Special Revenue Funds may be used whenever a government wishes to segregate income for specific purposes. Answer: False 2.Every general purpose government will have one

  • 45 Pages Chap005
    Chap005

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 5 Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent True/False Questions 1. Unexpended intergovernmental grants and taxes dedicated to capital improvements in a capital projects fund are likely to be class

  • 42 Pages Chap008
    Chap008

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 8 Government-Wide Statements, Fixed Assets, Long-Term Debt True/False Questions 1. Enterprise funds are reported in the business-type activities column of the government-wide statements. Answer: True 2. When preparing the government-wide statement

  • 37 Pages Chap007
    Chap007

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 7 Fiduciary (Trust) Funds True/False Questions 1. Fiduciary Funds are used to account for assets held by a government acting as a trustee or agent for entities external to the governmental unit: Including individuals, organizations, and other gove

  • 37 Pages Chap011
    Chap011

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 11 College and University Accounting Private Institutions True/False Questions 1. Private colleges and universities are subject to the standards issued by the FASB Answer: True 2. Public colleges and universities are subject to the standards issue

  • 32 Pages Chap001
    Chap001

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 1 Introduction to Accounting and Financial Reporting for Governmental and Not-for-Profit Organizations TEST BANK TO ACCOMPANY ESSENTIALS OF ACCOUNTING FOR GOVERNMENTAL AND NOTFOR-PROFIT ORGANIZATIONS: TENTH EDITION PREPARED BY: MARY LORETTA MANKTE

  • 40 Pages Chap010
    Chap010

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 10 Accounting for Private Not-for-Profit Organizations True/False Questions 1. If a private not-for-profit fails to comply with donor restriction on contributions received, the organization must accrue and disclose a contingent liability following

  • 29 Pages Chap012
    Chap012

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 12 Accounting for Hospitals and Other Health Care Providers True/False Questions 1. If a health care organization is owned or controlled by a government, it is typically considered a special-purpose entity engaged only in businesstype activities a

  • 29 Pages Chap009
    Chap009

    School: University Of Michigan-Dearborn

    Course: Not For Profit Accounting

    Chapter 9 Accounting for Special-Purpose Entities, Including Public Colleges and Universities True/False Questions 1. According to GASB Statement No. 34, General-purpose governments are thought to be those that offer more than one type of basic government

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