ACCT 567 Midterm Exam | eBooks | Education

ACCT 567 Midterm Exam

ACCT 567 Midterm Exam PLDZ-48 Instant Download Price
In Stock
$ 22.00 USD
CourseHelp
Buy and Download Description

ACCT 567 Midterm Exam

1. (TCOs A and B) Fiduciary funds are to use which of the following measurement and basis of accounting?

2. (TCOs A and B) Funds other than the General Fund are required to be considered to be a major fund when

3. (TCOs A and B) Which of the following is most correct with regard to Management’s Discussion and Analysis?

4. (TCOs B and C) With regards to budgetary reporting by governmental entities, which of the following is not a true statement?

5. (TCOs B and C) The proper journal entry to record an encumbrance would include which of the following?

6. (TCOs B and C)) Capital assets that are used by an enterprise fund should be accounted for in the following fund?

7. (TCO E) When a government acquires general fixed assets under a capital lease agreement, how should the asset be recorded in the government-wide financial statements?

8. (TCO E) Which of the following projects would usually be accounted for in a capital projects fund?

9. (TCO E) Which of the following statements is a true statement regarding the reporting of debt service funds?

10. (TCO D) Under GASB Statement No. 33, when would a special revenue fund be considered to have satisfied the eligibility requirement of a reimbursement type federal grant?

1. (TCO E)You are in a staff meeting with the city controller and one of your colleagues was quoted as follows: “Capital projects funds are established by a government to account for all plant or equipment acquired by construction.” Do you agree with this statement? Why or why not?

2. (TCOs A and B)How are the major funds of a state or local government determined by a governmental entity?

3. (TCO D) The City of Norton received a gift of $3,500,000 from a group of local residents on April 1, 2012 and signed an agreement that the funds would be invested on a permanent basis and the income would be used to purchase artifacts for the city museum. The following transactions took place during the fiscal year ended Dec 31, 2012

ACCT 567 Midterm Exam 1. (TCOs A and B) Fiduciary funds are to use which of the following measurement and basis of accounting? 2. (TCOs A and B) Funds other than the General Fund are required to be considered to be a major fund when 3. (TCOs A and
Recent Reviews Be the first to Review this product!
0 0 0 0 reviews