Chap018-baker 46

Chap018-baker 46 - Chapter 18 - Governmental Entities:...

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Chapter 18 - Governmental Entities: Special Funds and Government-Wide Financial Statements 18-46 P18-24 True/False Questions 1. F The budgetary comparison schedule requires both the initial budget and the final budget. 2. T 3. F A component unit is financially accountable to the primary government. 4. F The net assets in the government-wide statement of net assets would be categorized by: invested in capital assets, net of related debt; restricted by outside donors in specific funds; and, unrestricted. 5. F The tests for a major governmental, or enterprise fund, for which separate disclosure is required in the government-wide financial statements are: (a) total assets, liabilities, revenues, or expenditures/expenses of that individual governmental or enterprise fund are at least 10 percent or more of the governmental or enterprise category, and (b) total assets, liabilities, revenues, or expenditures/expenses of the individual governmental or enterprise fund are at least 5 percent of the total for all governmental and
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This note was uploaded on 10/09/2011 for the course ACC 253 taught by Professor Strimling during the Fall '11 term at Harper.

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