Chapter 1 Quiz

Chapter 1 Quiz - Which of the following fund types does not use modified accrual accounting A Debt Service B Special Revenue C Agency D Permanent

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Which of the following fund types does not use modified accrual accounting? A. Debt Service B. Special Revenue C. Agency D. Permanent Which of the following is not a fiduciary fund type? A. Agency B. Expendable trust C. Private-purpose trust D. Investment trust Government-wide statements use the: A. current financial resources measurement focus and accrual basis of accounting. B. economic resources measurement focus and accrual basis of accounting C. economic resources measurement focus and modified accrual basis of accounting D. none of the above, the fiduciary funds have no revenues. Which of the following is not one of the objectives of Federal Financial Reporting, as outlined in SAFAC 1, which was issued by the FASAB? A. Financial reporting should enable evaluation of the service efforts, costs and accomplishments of the reporting entity. B. Financial reporting should enable evaluation of the success rate of programs C. Financial reporting should reveal whether financial systems and controls are adequate
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This note was uploaded on 01/19/2012 for the course ACCT 2302 taught by Professor Smith,s during the Spring '09 term at HCCS.

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Chapter 1 Quiz - Which of the following fund types does not use modified accrual accounting A Debt Service B Special Revenue C Agency D Permanent

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