Bundle for WGU C252 Questions and Correct Solutions 2024 | 2025

WGU C252 Practice Questions Chapter 2 | Questions and Correct Solutions 2024 If a government is obligated to legally report information in a manner that differs from GAAP A. GAAP takes precedence over the legal requirements. B. Legal requirements take precedence over GAAP C. Both GAAP requireme...

WGU C252 Practice Questions Chapter 7 | Questions and Correct Answers Latest Update 1. Which of the following statements is true concerning accounting and financial reporting practices related to capital asset acquisitions? a. Routine capital purchases such as vehicles and equipment often may b...

WGU C252 Practice Questions Chapter 3 | Questions and Verified Answers 1. Which of the following is not a characteristic of the General Fund? a. Is used to account for all financial resources that are not required to be accounted for in another fund. b. Is used by all governments that report gov...

WGU C252 Practice Questions Chapter 13 | Questions and Correct Answers 2024 1. When preparing external financial statements that are in accordance with generally accepted accounting principles, the minimum financial report will include a. Basic financial statements, management's discussion and ...

WGU C252 - Governmental and Nonprofit Accounting (Chapter 13) | Questions and Correct Answers Latest Which of the following is not considered to be part of the basic financnial statements? - Answer - Management's Discussion and Analysis Governmental funds financial statements typically include...

WGU C252 Practice Questions Chapter 5 | Questions and Correct Answers 2024 Update 1. Under the modified accrual basis, revenues are considered susceptible to accrual if a. Available to finance current period expenditures. b. Objectively measurable. c. Collected during the current period. d. Bo...

WGU C252 Practice Questions Chapter 4 | Questions and Correct Solutions 1. A city's General Fund general ledger includes accounts called Estimated Revenues, Appropriations, and Encumbrances. This indicates that the city a. Formally integrates its budget into its accounts b. Uses a cash plus en...

WGU C252 Practice Questions Chapter 10 | Questions and Verified Answers 1. The use of an Enterprise Fund is required by generally accepted accounting principles in each of the following situations except a. When user fees are charged for the majority of the activity's operations. b. When an ac...

WGU C252 Practice Questions Chapter 12 | Questions and Correct Answers 2024 1. Which types of funds are classified as fiduciary funds? a. Pension trust, private-purpose trust, and Investment Trust Funds. b. Pension trust, permanent trust, and Agency Funds. c. Pension trust, private-purpose trus...

WGU C252 Governmental Accounting | 60 Questions and Correct Answers 2024 Which Activity is aligned with the actions of a governing body of a governmental and nonprofit organization? A) Resolving differences quickly for dissatisfied constituents B) Ensuring the constituents receive value for the...

WGU C252 Governmental and Nonprofit Accounting - Retake Study Plan | Questions and Verified Solutions 2024 Update The primary authoritative body for determining the measurement focus and basis of accounting standards for governmental fund operating statements is: A Governmental Accounting Stand...