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Test Bank for Government and not for Profit Accounting Concepts and Practices 9th Edition by Michael H. Granof all chapters 1-10 covered, ISBN:9781119803898$20.49
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Test Bank for Government and not for Profit Accounting Concepts and Practices 9th Edition by Michael H. Granof all chapters 1-10 covered, ISBN:9781119803898
Test Bank for Government and not for Profit Accounting Concepts and Practices 9th Edition by Michael H. Granof all chapters 1-10 covered, ISBN:9781119803898
Test Bank for Government and not for Profit Accounting Concepts and Practices 9th Edition by Michael H. Granof all chapters 1-10 covered, I...
1. Acprimaryccharacteristiccthatcdistinguishesc governmentscfromcbusinessescis
a) Thecneedctocgeneratecrevenuescequalctocorcincexcesscofcexpenditures/expenses.
b) Thecimportancecofcthecbudgetcincthecgoverningcprocess.
c) Thecneedctocprovidecgoodscorcservices.
d) Theccorrelationcbetweencrevenuescgeneratedcandcdemandcforcgoodscorcservices.
2. Acprimaryccharacteristiccthatcdistinguishescnot-for-profitcentitiescfromcbusinessescis
a) Thecneedctocgeneratecrevenuescequalctocorcincexcesscofcexpenditures/expenses.
b) Thecimportancecofcthecbudgetcincthecgoverningcprocess.
c) Thecneedctocprovidecgoodscorcservices.
d) Theccorrelationcbetweencrevenuescgeneratedcandcdemandcforcgoodscorcservices.
3. Whichcofcthecfollowingccharacteristicscdistinguishescacgovernmentcorcnot-for-
profitcentityc fromcacbusiness?
a) Thereciscalwayscacdirectclinkcbetweencrevenuescgeneratedcandcexpenditures/expensesc
incurred.
b) Capitalcassetscarecusedctocproducecrevenuescandcsaveccosts.
c) Revenuescarecalwayscindicativecofcdemandcforcgoodscandcservices.
d) Thecmissioncofcthecentitycwillcdeterminecthecgoodscorcservicescprovided.
4. Thecmostc significantcfinancialcdocumentcprovidedc bycacgovernmentciscthe
a) Balancecsheet.
b) Operatingcstatement.
c) Operatingcbudget.
d) Cashcflowcstatement.
5. Whichcofcthecfollowingcstatementscisctrue?
a) Governmentscmaycengagecincactivitiescsimilarctocactivitiescengagedcin cbycfor-
profitc entities.
b) Therecarecaclimitedcnumbercofcdifferentctypescofcgovernments.
c) Allcgovernmentscengagecincthecsamecactivities.
d) Managerscmaychavecaclong-termcfocuscandctherebycsacrificecthecshort-
termcliquiditycofc thecentity.
6. WhichcofcthecfollowingcactivitiesciscNOTcancactivitycincwhichcacgovernmentcmightcengage?
a) Sellingcelectriccpower.
b) Operatingcacgolfccourse.
c) Operatingcacbookstore.
d) Allcofcthecabovecarecactivitiescthatcmightcbeccarriedcoutcbycacgovernment.
7. Incwhichcofcthecfollowingcactivitiesciscacnot-for-profitcentitycleastclikelyctocengage?
a) Providingceducationalcservices.
b) Providingchealth-carecservices.
c) Providingcforcterrorismcdefense.
d) Retailcsalescofccookies.
GranofcTestcBankcChapterc1 Pagec2
, 8. WhichcofcthecfollowingccancbecaffectedcbycGAAP?
a) Legalcabilityctocissuecbonds.
b) Abilityctocbalancecthecbudget.
c) Amountcreportedcascemployeecpensioncplanccontributions.
d) Claimscandcjudgmentscsettled.
9. Whichcofcthecfollowingccharacteristicsciscuniquectocgovernments?
a) Thecabilityctochavecactivitiescfinancedcwithctax-exemptcdebt.
b) Thecpowerctocimposec fees.
c) Thecabilityctocissuectax-exemptcdebt.
d) ThecabilityctochavecactivitiescfinancedcbycFederalcgrants.
10. Tocobtaincaccomprehensivecunderstandingcofcacgovernment‘scfiscalchealth,cacfinancialcanalyst
shouldcobtaincancunderstandingcofcwhichcofcthecfollowing?
a) Allcthecresourcescownedcbycthecgovernment.
b) Allcthecresourcescthatcmaycbecsummonedcbycthecgovernment.
c) Demographiccdatacaboutcthecresidentscservedcbycthecgovernment.
d) Allcofcthecabove.
11. Whichcofcthecfollowingcisccommonctocbothcgovernmentscandcnot-for-
profitcentitiescbutc distinguishescthesecentitiescfromcfor-profitcentities?
a) Thecbudgetciscaclegal,c financialcdocument.
b) Revenuescarecusuallycindicativecofcdemandcforcgoodscorc services.
c) Thereciscdirectcmatchingcofcrevenuescandcexpenses.
d) Therecarecnocdefinedcownershipcinterests.
12. WhichcofcthecfollowingciscNOTcacpurposecofcexternalcfinancialcreportingcbycgovernments?
Externalcfinancialcreportscshouldcallowcuserscto
a) Assesscfinancialccondition.
b) Comparecactualcresultscwithcthecbudget.
c) Assesscthecabilitycofcelectedcofficialsctoceffectivelycmanagecpeople.
d) Evaluatecefficiencycandceffectiveness.
13. WhichcofcthecfollowingciscNOTcacreasoncwhycusersc needcgovernmentcandcnot-for-
profitc externalcfinancialcstatements?
a) Tocdeterminecthecabilitycofcthecentityctocmeetcitscobligations.
b) Tocdeterminecthecabilitycofcthecentityctoccontinuectocprovidecservices.
c) Tocpredictcfuturecfiscalcsolvency.
d) Tocevaluatecthecoverallcprofitabilitycofcthecentity.
14. Userscofcgovernmentcfinancialcstatementscshouldc becinterestedcincinformationcaboutc
compliancecwithclawscandcregulationscforcwhichcofcthecfollowingcreasons?
a) Tocdeterminecifcthecgovernmentchasccompliedcwithcbondccovenants.
b) Tocdeterminecifcthecgovernmentchasccompliedcwithctaxingclimitations.
c) Tocdeterminecifcthecgovernmentchasccompliedcwithcdonorcrestrictionsconcthecusecofcfunds.
d) Tocdeterminecallcofcthecabove.
GranofcTestcBankcChapterc1 Pagec3
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