Ives7e_TIF_ch10 - Chapter 10 Government-Wide Financial...

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Chapter 10: Government-Wide Financial Statements Multiple Choice 1. To what extent should fund or fund type data be displayed on the face of government-wide financial statements? a. Information should be displayed for the government as a whole, but individual funds or fund types should not be displayed b. Information should be displayed by fund type, with a total for the government as a whole c. Information should be displayed by major fund, with a total for the government as a whole d. Information should be displayed by major fund, except for fiduciary funds Answer: a 2. Which measurement focus should be used in government-wide financial statements? a. the same measurement focus as that used in accounting for each fund type b. the current financial resources measurement focus c. the economic resources measurement focus d. the economic resources measurement focus for governmental fund types and the current financial resource measurement focus for proprietary and fiduciary fund types Answer: c 3. How should the difference between assets, deferred outflows, deferred inflows, and liabilities be characterized in government-wide financial statements?
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4. How should component units be displayed in government-wide financial statements? 5. How should bonds payable be reported on government-wide financial statements?
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