Chapter 2 - Government and Non-Profit Homework CHAPTER 2...

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Government and Non-Profit Homework CHAPTER 2 2-1 Examine the CAFR A) Government-Wide Statements: Titles: Statement of Net Assets and Statement of Activity Total Assets: Governmental Activities > Business-Type Activities Net Cost: Public Safety has the highest Net Cost General Revenues: To cover the net cost of gov. activities, revenues consist of charges for services, operating contributions/grants, and capital contributions/ grants. Profitability: No, it had a net income of -71,842 Component Units: OMU and Owensboro Riverport Authority B) General Fund: - Balance Sheet (Governmental Funds): No. Assets include: Delinquent Tax Receivable, Lease and Accounts Receivable, Prepaid Expense, Cash and Cash Equivalents….The assets and liabilities are not separated by current vs. noncurrent. C) Other Governmental Fund Types: -Statement of Revenues, Expenditure, and Changes in Fund Balance - D) Proprietary Funds: - Statement of Net Assets - Statement of Revenues, Expenditure, and Changes in Fund Balance - Statement of Cash Flows * Does not show proof of accrual accounting in physical statements. E) Fiduciary Funds
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This note was uploaded on 06/15/2011 for the course ECON 101 taught by Professor Anderson during the Spring '11 term at Owensboro Community and Technical College.

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Chapter 2 - Government and Non-Profit Homework CHAPTER 2...

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