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ch01web - CHAPTER 1: INTRODUCTION TO ACCOUNTING AND...

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CHAPTER 1: INTRODUCTION TO ACCOUNTING AND FINANCIAL REPORTING FOR GOVERNMENTAL AND NOT-FOR- PROFIT ENTITIES Solutions to Exercises and Problems 1-2. 1. c. 6. d . 2. d. 7. b . 3. a . 8. c . 4. b . 9. a . 5. b . 10. d . 1-3. This is an exercise that may generate considerable discussion in class, as some of the answers depend on individual judgments and interpretations. Keeping this in mind, you may wish to provide some leeway in grading this exercise, depending on how you literally you interpret the terms “funds” and “activities.” See Notes a and b for suggested guidelines. Financial Statements Activities or Funds Reported Basis Of Accounting Measurement Focus Statement of net assets—GW GA, BTA (see Note a) A ER Statement of activities—GW GA, BTA (see Note a) A ER Balance sheet— governmental funds GF (see Note b) MA CFR Statement of revenues, expenditures, and changes in fund balances— governmental funds GF (see Note b) MA CFR Statement of net assets—proprietary funds PF
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This note was uploaded on 04/08/2008 for the course AC 456 taught by Professor Parsons during the Spring '08 term at Alabama.

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ch01web - CHAPTER 1: INTRODUCTION TO ACCOUNTING AND...

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