Ch7-Acct for Gov and NonProfit Ent 15e

Ch7-Acct for Gov and NonProfit Ent 15e - Add, modify, and...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Add, modify, and remove questions. Select a question type from the Add Question drop-down list and click Go to add questions. Use Creation Settings to establish which default options, such as feedback and images, are available for question creation. COURSES > ACCOUNTING FOR GOVERNMENTAL AND NONPROFIT ENTITIES:, 15/E- WILSON > CONTROL PANEL > POOL MANAGER > POOL CANVAS Pool Canvas Add Multiple Choice Creation Settings Name Chapter 07 Accounting for the Business-type Activities of State and Local Governments Description Questions which Blackboard's assessment component is incapable of supporting are not included in the export. Instructions Add Question Here Question 1 True/False Question Internal service funds of one government may not provide goods or services, on a cost- reimbursement basis, to other governments. Answer True False Correct Feedback The definition of internal service funds quoted in the text is to provide for service to other governments as well as to other departments or agencies of the unit operating the internal service fund. While internal service funds exist primarily to provide goods and services to other departments and agencies of the same government, there is no prohibition to providing the goods or services to other governments as well. Incorrect Feedback The definition of internal service funds quoted in the text is to provide for service to other governments as well as to other departments or agencies of the unit operating the internal service fund. While internal service funds exist primarily to provide goods and services to other departments and agencies of the same government, there is no prohibition to providing the goods or services to other governments as well. Add Question Here Question 2 True/False Question Revenues of internal service funds should be recognized only when they are expected to be available in time to pay current liabilities of the fund. Answer True False Correct Feedback Revenues of internal service funds should be recognized on the accrual basis: when earned, without regard to when they will be available to pay current liabilities of the fund. Incorrect Feedback Revenues of internal service funds should be recognized on the accrual basis: when earned, without regard to when they will be available to pay current liabilities of the fund. Add Question Here Question 3 True/False Question Internal service funds should account for operating expenditures on the accrual basis. Answer True False Correct Feedback This question requires careful reading. Internal service funds account for expenses , not expenditures, and use the accrual basis. Incorrect Feedback This question requires careful reading. Internal service funds account for expenses , not expenditures, and use the accrual basis....
View Full Document

Page1 / 21

Ch7-Acct for Gov and NonProfit Ent 15e - Add, modify, and...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online