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ACCY 407 Exams BUNDLE, VERIFIED.
ACCY 407 exam 3, Top Questions and answers 100% Accurate. VERIFIED. LATEST UPDATES.
[Show more]ACCY 407 exam 3, Top Questions and answers 100% Accurate. VERIFIED. LATEST UPDATES.
[Show more]ACCY 407 Exam 1, Top Questions and answers, 100% Accurate. Graded A+ 
 
 
a broad array - -a broad arraygeneral purpose governments provide _____ services 
 
city of oxford, federal government, state government, cities, towns, counties - -what are some examples of general purpose governments 
 
inte...
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Add to cartACCY 407 Exam 1, Top Questions and answers, 100% Accurate. Graded A+ 
 
 
a broad array - -a broad arraygeneral purpose governments provide _____ services 
 
city of oxford, federal government, state government, cities, towns, counties - -what are some examples of general purpose governments 
 
inte...
ACCY 407 EXAM 1. Top Questions & Answers. Graded A+ 
 
 
CH 1 - - 
 
Types of Governments 
 
General purpose governments: 
-Provide a broad array of services 
-Examples: Federal government, state governments, cities, towns, townships, villages, counties, boroughs, and parishes 
 
Special purpose go...
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Add to cartACCY 407 EXAM 1. Top Questions & Answers. Graded A+ 
 
 
CH 1 - - 
 
Types of Governments 
 
General purpose governments: 
-Provide a broad array of services 
-Examples: Federal government, state governments, cities, towns, townships, villages, counties, boroughs, and parishes 
 
Special purpose go...
Accy 407 Final Exam Questions & Answers, 100% Accurate. Verified. 
 
 
Interperiod Equity - A government's obligation to disclose if current year revenues were sufficient to pay for current year benefits/services 
 
2 types of Governments - General- broad array of services 
Special Purpose- provide...
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Add to cartAccy 407 Final Exam Questions & Answers, 100% Accurate. Verified. 
 
 
Interperiod Equity - A government's obligation to disclose if current year revenues were sufficient to pay for current year benefits/services 
 
2 types of Governments - General- broad array of services 
Special Purpose- provide...
Accy 407 Exam 1. Top Exam Questions & Answers, 100% Accurate. 
 
 
general purpose governments - -governments that provide many categories of services to their residents, such as states, counties, municipalities, and townships. Typical services include public safety, road maintenance, and health and...
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Add to cartAccy 407 Exam 1. Top Exam Questions & Answers, 100% Accurate. 
 
 
general purpose governments - -governments that provide many categories of services to their residents, such as states, counties, municipalities, and townships. Typical services include public safety, road maintenance, and health and...
Accy 407 Exam 1 multiple choice, Top Questions & Answers, 100% Accurate. 
 
 
Which of the following is a special purpose government? 
a) The State of Arkansas 
b) Greene County. 
c) Rutgers University. 
d) Seattle, Washington. - -Rutgers University 
 
Which of the following is not a distinguishing ...
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Add to cartAccy 407 Exam 1 multiple choice, Top Questions & Answers, 100% Accurate. 
 
 
Which of the following is a special purpose government? 
a) The State of Arkansas 
b) Greene County. 
c) Rutgers University. 
d) Seattle, Washington. - -Rutgers University 
 
Which of the following is not a distinguishing ...
ACCY 407 FINAL exam Questions & Answers. Rated A+ 
 
 
__ __ governments provide a broad array of services 
examples include: city of oxford, federal govt., & state of mississippi - -general purpose 
 
__ __ governments usually provide only a single or just a few services 
examples include: public c...
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Add to cartACCY 407 FINAL exam Questions & Answers. Rated A+ 
 
 
__ __ governments provide a broad array of services 
examples include: city of oxford, federal govt., & state of mississippi - -general purpose 
 
__ __ governments usually provide only a single or just a few services 
examples include: public c...
Accy 407 Final Exam Top Exam Questions & Answers, Verified. 
 
 
general purpose governments - -provide a broad array of services 
 
special purpose governments - -usually provide only one or just a few services (schools, hospitals) 
 
not-for-profit organizations - -legally separate organizations w...
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Add to cartAccy 407 Final Exam Top Exam Questions & Answers, Verified. 
 
 
general purpose governments - -provide a broad array of services 
 
special purpose governments - -usually provide only one or just a few services (schools, hospitals) 
 
not-for-profit organizations - -legally separate organizations w...
ACCY 407 ch 1 Questions and answers, graded A+ 
 
 
2 types of governments - 1. general purpose (broad array) 
2. special purpose (single/few services) 
 
not-for-profit organizations - -legally separate 
-usually exempt from taxation 
 
difference between local governments/NFPs from businesses - -p...
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Add to cartACCY 407 ch 1 Questions and answers, graded A+ 
 
 
2 types of governments - 1. general purpose (broad array) 
2. special purpose (single/few services) 
 
not-for-profit organizations - -legally separate 
-usually exempt from taxation 
 
difference between local governments/NFPs from businesses - -p...
ACCY 407 Exam 1 Review. Top Questions & Answers. 100% Accurate. VERIFIED. 
 
 
The basic financial statements of a not-for-profit include all of the following except 
 
a. Statement of activities. 
b. Statement of financial position. 
c. Statement of cash flows. 
d. Statement of changes in functiona...
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Add to cartACCY 407 Exam 1 Review. Top Questions & Answers. 100% Accurate. VERIFIED. 
 
 
The basic financial statements of a not-for-profit include all of the following except 
 
a. Statement of activities. 
b. Statement of financial position. 
c. Statement of cash flows. 
d. Statement of changes in functiona...
ACCY 407 M/C Ch 1 -4. Top Exam Questions and answers, RATED A+ 
 
 
A city received resources that the state indicates can only be used for public works projects, such as road construction. Assuming the resources have not been expended by year end, how would the resources the city received be shown ...
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Add to cartACCY 407 M/C Ch 1 -4. Top Exam Questions and answers, RATED A+ 
 
 
A city received resources that the state indicates can only be used for public works projects, such as road construction. Assuming the resources have not been expended by year end, how would the resources the city received be shown ...
Ole Miss ACCY 407 final exam Questions & Answers, Graded A+ 
 
 
Which of the following statements is prepared by both a private and public college or university? 
 
Statement of net assets. 
Statement of cash flows. 
Statement of activities. 
Statement of net position. - -Statement of cash flows. 
...
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Add to cartOle Miss ACCY 407 final exam Questions & Answers, Graded A+ 
 
 
Which of the following statements is prepared by both a private and public college or university? 
 
Statement of net assets. 
Statement of cash flows. 
Statement of activities. 
Statement of net position. - -Statement of cash flows. 
...
ACCY 407 ch 1. Top Questions & Answers, 100% Accurate. VERIFIED. 
 
 
General Purpose Government - -provide a broad array of services 
 
Special purpose government - -provide only a single or just a few services; ex: public university, hospital 
 
Not-for-Profit Organization - -legally separate from...
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Add to cartACCY 407 ch 1. Top Questions & Answers, 100% Accurate. VERIFIED. 
 
 
General Purpose Government - -provide a broad array of services 
 
Special purpose government - -provide only a single or just a few services; ex: public university, hospital 
 
Not-for-Profit Organization - -legally separate from...
ACCY 407 Exam 2. Top Questions & Answers. 100% Accurate. Rated A+ 
 
 
General Capital Assets - -long-lived assets used in GOVERNMENTAL FUND activities (does not include proprietary/fiduciary funds) 
 
Accounting for General Capital Assets - -General & Special Revenue Funds: account for capital expe...
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Add to cartACCY 407 Exam 2. Top Questions & Answers. 100% Accurate. Rated A+ 
 
 
General Capital Assets - -long-lived assets used in GOVERNMENTAL FUND activities (does not include proprietary/fiduciary funds) 
 
Accounting for General Capital Assets - -General & Special Revenue Funds: account for capital expe...
ACCY 407: Homework 1. Top Exam Questions & Answers. Graded A+ 
 
 
James Black is reviewing his city's financial reporting because he wants to run for the city council. He is concerned that the city is not using its resources effectively. James is primarily interested in: 
 
A) Fiscal Accountabilit...
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Add to cartACCY 407: Homework 1. Top Exam Questions & Answers. Graded A+ 
 
 
James Black is reviewing his city's financial reporting because he wants to run for the city council. He is concerned that the city is not using its resources effectively. James is primarily interested in: 
 
A) Fiscal Accountabilit...
ACCY 407 ch 9. Top Questions & Answers. 100% Accurate. VERIFIED. 
 
 
 
two primary objectives of government financial reports - -1. to provide information that can be used to assess accountability 
2. to assist users in making economic, social and poltical decisions 
 
characteristics of useful inf...
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Add to cartACCY 407 ch 9. Top Questions & Answers. 100% Accurate. VERIFIED. 
 
 
 
two primary objectives of government financial reports - -1. to provide information that can be used to assess accountability 
2. to assist users in making economic, social and poltical decisions 
 
characteristics of useful inf...
ACCY 407 Ch 2, Top Exam Questions & Answers. Rated A+ 
 
 
Governmental Activities - -core governmental services, together with admin support ex: police, fire, bridges, public buildings (pay even if not using) 
 
Business-Type Activities - -intended to be self-supporting by charging users for servic...
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Add to cartACCY 407 Ch 2, Top Exam Questions & Answers. Rated A+ 
 
 
Governmental Activities - -core governmental services, together with admin support ex: police, fire, bridges, public buildings (pay even if not using) 
 
Business-Type Activities - -intended to be self-supporting by charging users for servic...
ACCY 407 Final, Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
 
Accountability - --cornerstone of all governmental financial reporting 
-arises from citizens' "right to know" 
-Imposes a duty on public officials to be accountable to citizens for raising public moneys 
 
Budgetary Fund...
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Add to cartACCY 407 Final, Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
 
Accountability - --cornerstone of all governmental financial reporting 
-arises from citizens' "right to know" 
-Imposes a duty on public officials to be accountable to citizens for raising public moneys 
 
Budgetary Fund...
Chapter 3 ACCY 407, Top Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
Government-wide statement of activities - a net expense or revenue format is used on the top section of the statement of activities 
 
expenses - program revenues = net (expense) revenue 
 
How should expenses be repo...
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Add to cartChapter 3 ACCY 407, Top Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
Government-wide statement of activities - a net expense or revenue format is used on the top section of the statement of activities 
 
expenses - program revenues = net (expense) revenue 
 
How should expenses be repo...
ACCY 407 Chapter 9, Top Exam questions and answers. Rated A+ 
 
 
Two primary objectives of government financial reports - -To provide information that can be used to assess accountability 
-To assist users in making economic, social, and political decisions 
 
Characteristics of useful information ...
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Add to cartACCY 407 Chapter 9, Top Exam questions and answers. Rated A+ 
 
 
Two primary objectives of government financial reports - -To provide information that can be used to assess accountability 
-To assist users in making economic, social, and political decisions 
 
Characteristics of useful information ...
ACCY 407 Chapter 7, top Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
Accounting Characteristics of Proprietary Funds 
 
__________ basis of accounting - -Accural 
 
___________ and _______________ recorded within the funds 
 
 
____________ and _________ are recorded and reported - -Ca...
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Add to cartACCY 407 Chapter 7, top Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
Accounting Characteristics of Proprietary Funds 
 
__________ basis of accounting - -Accural 
 
___________ and _______________ recorded within the funds 
 
 
____________ and _________ are recorded and reported - -Ca...
ACCY 407 exam 3, Top Questions and answers 100% Accurate. VERIFIED. 
 
 
Which of the following would not be included as a reconciling item in reconciling the governmental fund statement of revenues, expenditures, and changes in fund balances to the government-wide statement of activities? 
Interest...
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Add to cartACCY 407 exam 3, Top Questions and answers 100% Accurate. VERIFIED. 
 
 
Which of the following would not be included as a reconciling item in reconciling the governmental fund statement of revenues, expenditures, and changes in fund balances to the government-wide statement of activities? 
Interest...
ACCY 407 Ch 3. Top Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
14) Which of the following best describes the recommended format for the government-wide statement of activities? 
 
 
 A) Program revenues minus expenses minus other revenues and expenses equals change in net position. ...
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Add to cartACCY 407 Ch 3. Top Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
14) Which of the following best describes the recommended format for the government-wide statement of activities? 
 
 
 A) Program revenues minus expenses minus other revenues and expenses equals change in net position. ...
ACCY 407 Chapter 14, Top Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
The majority of NFPs are __________________ - -philanthropic and quite often rely on contributions and the services of volunteers 
 
NFP Categories - -Voluntary health and welfare organizations 
Other nonprofit organi...
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Add to cartACCY 407 Chapter 14, Top Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
The majority of NFPs are __________________ - -philanthropic and quite often rely on contributions and the services of volunteers 
 
NFP Categories - -Voluntary health and welfare organizations 
Other nonprofit organi...
ACCY 407- Chapter 7, Top Questions and answers, 100% Accurate. VERIFIED. 
 
What are the required financial statements for proprietary funds? - 1)Statement of *net position* (or balance sheet) 
 
2)Statement of *revenues, expenses, and changes in fund net position* (operating statement) 
 
3)Stateme...
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Add to cartACCY 407- Chapter 7, Top Questions and answers, 100% Accurate. VERIFIED. 
 
What are the required financial statements for proprietary funds? - 1)Statement of *net position* (or balance sheet) 
 
2)Statement of *revenues, expenses, and changes in fund net position* (operating statement) 
 
3)Stateme...
ACCY 407 Chapter 7. Top Exam Questions and answers, 100% Accurate. RATED A+ 
 
 
Proprietary funds consist of user charges collected by the government. It aids the government in managing the resources efficiently. Internal service funds account for the internal financial transactions and the enterpr...
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Add to cartACCY 407 Chapter 7. Top Exam Questions and answers, 100% Accurate. RATED A+ 
 
 
Proprietary funds consist of user charges collected by the government. It aids the government in managing the resources efficiently. Internal service funds account for the internal financial transactions and the enterpr...
ACCY 407 exam #3 (ch. 7, 9,&14), Top Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
The following cash transactions were among those reported by Genesee County's Wastewater Enterprise Fund for the year: 
Proceeds from sale of revenue bonds for construction ... $5,000,000 
Interest income...
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Add to cartACCY 407 exam #3 (ch. 7, 9,&14), Top Exam Questions and answers, 100% Accurate. VERIFIED. 
 
 
The following cash transactions were among those reported by Genesee County's Wastewater Enterprise Fund for the year: 
Proceeds from sale of revenue bonds for construction ... $5,000,000 
Interest income...
ACCY 407 CH 6 to slide 18 Notes and Vocab. Top Questions and answers, 100% Accurate. Verified. 
 
 
general long-term liabilities - -Those that arise from activities of governmental funds and that are not reported as fund liabilities of a proprietary or fiduciary fund; If debt reported in a propriet...
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Add to cartACCY 407 CH 6 to slide 18 Notes and Vocab. Top Questions and answers, 100% Accurate. Verified. 
 
 
general long-term liabilities - -Those that arise from activities of governmental funds and that are not reported as fund liabilities of a proprietary or fiduciary fund; If debt reported in a propriet...
ACCY 407 - Chapter 4, Top Questions and answers, 100% Accurate. Graded A+ 
 
 
What is the measurement focus for governmental funds? - -Governmental funds focus on the flow of current financial resources. They include: 
Cash, receivables, securities, prepaid items, and supplies inventories. 
 
Liabi...
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Add to cartACCY 407 - Chapter 4, Top Questions and answers, 100% Accurate. Graded A+ 
 
 
What is the measurement focus for governmental funds? - -Governmental funds focus on the flow of current financial resources. They include: 
Cash, receivables, securities, prepaid items, and supplies inventories. 
 
Liabi...
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