This preview shows page 1. Sign up to view the full content.
Unformatted text preview: b. False 35. Not‐for‐profit entities do not face incentives and pressures to achieve a given level of financial performance. a. True b. False 36. Bankruptcy of governmental units is common. a. True b. False General Feedback: They are rare. 37. Chapter 11 bankruptcy is for municipalities. a. True b. False 39. A negative trend for a municipality would be a declining surplus over time. a. True b. False 40. If the ratio Cash and Investments divided by Current Liabilities is increasing over time, this trend would be a negative sign for a municipality. a. True b. False 41. If the ratio Unreserved Fund Balance divided by Gross Expenditures is decreasing over time, this trend is a negative sign for a municipality. a. True b. False 42. If Long Term Debt divided by Population is decreasing over time, this sign would be a negative trend. a. True b. False 43. Using the fraud hypothesis testing approach, a forensic accountant attempts to detect fraud by formulating and testing null hypotheses. a. True b. False Page 29 of 44 ...
View Full Document
This note was uploaded on 07/16/2010 for the course ACCOUNTING 2301 taught by Professor Norton during the Summer '10 term at Academy of Design Tampa.
- Summer '10