Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781259917059
Author: RECK, Jacqueline L., Lowensohn, Suzanne L., NEELY, Daniel G.
Publisher: Mcgraw-hill Education,
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Textbook Question
Chapter 12, Problem 4Q
Robert Bland suggested that tensions may exist between stakeholders in a government’s budget process. Identify examples of potential conflicts between the stakeholders. How are these conflicts resolved?
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indicate yes if it describes a potential benefit of budgeting orno if it describes a potential negative outcome of budgeting. Budgets help coordinate activities across departments.
Which of the following is NOT correct about budgetary control.
Select one:
O a. It is a legally compulsory process which is controlled by
governments.
O b. It is the process of establishment of budgets relating to various
activities and comparing the budgeted figures with the actual
performance for arriving at deviations, if any.
O c. There cannot be budgetary control without budgets.
O d. It is a system which uses budgets as a means of planning and
controlling.
Which of the following is NOT correct about budgetary control.
Select one:
a. It is a legally compulsory process which is controlled by governments.
b. There cannot be budgetary control without budgets.
c. It is a system which uses budgets as a means of planning and controlling.
d. It is the process of establishment of budgets relating to various activities and comparing the budgeted figures with the actual performance for arriving at deviations, if any.
Chapter 12 Solutions
Accounting For Governmental & Nonprofit Entities
Ch. 12 - Are governments and not-for-profit organizations...Ch. 12 - What is the difference between two types of...Ch. 12 - Prob. 3QCh. 12 - Robert Bland suggested that tensions may exist...Ch. 12 - Identify some essential components of the annual...Ch. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - What are the three broad categories of service...Ch. 12 - Prob. 9QCh. 12 - Prob. 10Q
Ch. 12 - Prob. 14CCh. 12 - Budgets of government entities a. Are integrated...Ch. 12 - Which of the following statements regarding...Ch. 12 - Which of the following steps would not usually be...Ch. 12 - The budgeting principle in generally accepted...Ch. 12 - Prob. 16.5EPCh. 12 - An approach to budgeting that requires the very...Ch. 12 - Which of the following does not represent a...Ch. 12 - Prob. 16.8EPCh. 12 - Prob. 16.9EPCh. 12 - Prob. 16.10EPCh. 12 - Prob. 16.11EPCh. 12 - Which of the following is not one of the general...Ch. 12 - Prob. 16.13EPCh. 12 - The police chief of the Town of Meridian submitted...Ch. 12 - The City of Manhattan, Kansas, prepares an annual...Ch. 12 - The City of Ashcroft has produced a Service...Ch. 12 - Prob. 20EPCh. 12 - Prob. 21EPCh. 12 - The U.S. Office of Management and Budget (OMB)...
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Which stakeholders might be more interested in the budget rather than the financial statements? Why?arrow_forwardHow are the responsibilities of accounting systems different than administrative systems? What is the difference between a cash basis versus an accrual basis for accounting purposes? How do internal control standards increase accountability for procurements? What are some common causes of budget variance?arrow_forwardRequired: Identify the problems that appear to exist in the company’s budgetary control system and explain how the problems are likely to reduce the effectiveness of the system. Explain how the company’s budgetary control system could be revised to improve its effectiveness.arrow_forward
- It is proper budgeting procedure to begin with estimated revenues, but why might some nonprofit entities begin planning their expenditures instead of their revenues?arrow_forwardWhat are some common challenges or obstacles encountered in the budgeting process?arrow_forwardprovide a critical discussion of how the zero based budgeting approach can a strategic budget reform that could improve municpal financesarrow_forward
- Which provides the most benefit to an organization, a budget or the budgeting process? Why?arrow_forwardWhat are your thoughts on the misappropriation of funds? Government budgets prevent public officials from spending outside their budgetary authority, and the increased importance of budgets is reflected in government financial reports by a required report comparing budgeted and actual amounts.arrow_forward1) Explain the concept of contribution and limiting factors and how it can be effectively used in decision making2) Explain what you understand by Budgets, Fixed Budgets and Flexible Budgets in the context of controland performance evaluation of an organization of your choice.arrow_forward
- Please provide a brief description of the types of human behavior issues that might develop if budget targets are established too restrictively.arrow_forwardGovernment budgets prevent public officials from spending outside their budgetary authority, and the increased importance of budgets is reflected in government financial reports by a required report comparing budgeted and actual amounts. What are your thoughts on misappropriation of funds based on the above statements?arrow_forwardWhich of the following statements is the intended goal or outcome of a traditional line-item budget? Estimate the costs of accomplishing measurable tasks or activities Provide mechanisms for expenditure control Focus attention on the value of public services provided Require crosswalks to identify appropriations to agenciesarrow_forward
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