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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Question
Chapter 9, Problem 17.3EP
To determine
Identify the statement that is used to ascertain whether the component unit should be classified as major.
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Students have asked these similar questions
Which of the following funds does not get consolidated into the Governmental Activities section of the Statement of Net Position?
A.
Permanent
B.
Debt Service
C.
Internal Service
D.
Investment Trust
Multiple choice:

The accrual basis of accounting is used to account for revenues and expenditures reported in the financial statements of:
a.
Governmental funds.
b.
Proprietary funds.
c.
Governmental activities at the government-wide level.
d.
Business-type activities at the government-wide level.
Define a financial reporting entity. Give an example of a primary government. Define and give an example of a component unit. Explain the two methods of reporting the primary government and component units in the financial reporting entity and when each is required.
Chapter 9 Solutions
Accounting For Governmental & Nonprofit Entities
Ch. 9 - Prob. 1QCh. 9 - Prob. 2QCh. 9 - Prob. 3QCh. 9 - What is a component unit?Ch. 9 - Explain the difference between a blended and a...Ch. 9 - Prob. 6QCh. 9 - Prob. 7QCh. 9 - Prob. 8QCh. 9 - Give examples of items (transactions) that would...Ch. 9 - Prob. 10Q
Ch. 9 - Prob. 11QCh. 9 - Prob. 12CCh. 9 - The MDA for the 2016 City and County of Denver...Ch. 9 - Prob. 14CCh. 9 - Prob. 17.1EPCh. 9 - Prob. 17.2EPCh. 9 - Prob. 17.3EPCh. 9 - Interim government financial reports a. Are not...Ch. 9 - The comprehensive annual financial report (CAFR)...Ch. 9 - Prob. 17.6EPCh. 9 - The city council of Lake Jefferson wants to...Ch. 9 - Prob. 17.8EPCh. 9 - Prob. 17.9EPCh. 9 - Prob. 17.10EPCh. 9 - A positive unassigned fund balance can be found in...Ch. 9 - A city established a special revenue fund for gas...Ch. 9 - The county commission passed into law through an...Ch. 9 - Prob. 17.14EPCh. 9 - Prob. 17.15EPCh. 9 - Prob. 18EPCh. 9 - Prob. 19EPCh. 9 - The City of Lynnwood was recently incorporated and...Ch. 9 - Prob. 21EPCh. 9 - Prob. 22EPCh. 9 - Prob. 23EPCh. 9 - Prob. 24EPCh. 9 - You have recently started working as the...Ch. 9 - Prob. 26EPCh. 9 - Prob. 27EP
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Similar questions
- Government-wide financial statements make a distinction between program revenues and general revenues. How is that difference shown? Program revenues are offset against the expenses of a specific function; general revenues are assigned to governmental activities and business-type activities in general. General revenues are shown at the top of the statement of revenues and expenditures; program revenues are shown at the bottom. General revenues are labeled as operating revenues; program revenues are shown as miscellaneous income. General revenues are broken down by type; program revenues are reported as a single figure for the government.arrow_forwardDistinguish between accounting and financial reporting for state and local governments and VHWOs for the following issues: 1. Measurement focus and basis of accounting 2. Revenue recognition 3. Depreciation expense 4. Capital assetsarrow_forwardWhich of the following is true regarding government-wide financial statements? a. All capital assets, including infrastructure, are required to be reported. b. Internal service funds are not included. c. Both of the above d. Neither of the abovearrow_forward
- Activities of a general purpose government that provide the basis for GASB's financial accounting and reporting framework consist of governmental, business-type, and fiduciary. a. True b. Falsearrow_forwardWhy does a government determine the net expenses or revenues for each of the functions within its statement of activities?arrow_forwardWhich of the following is not part of the basic financial statements? a. Government-wide statement of net position b. Proprietary funds statement of revenues, expenses, and changes in fund net position c. Combining balance sheet—nonmajor governmental funds d. Notes to the financial statementsarrow_forward
- C. Using the contents presented in the Units supported by information in the relevant IPSASs, give a comprehensive definition (with examples) of revenue and expenditure appropriate for a Central Government.arrow_forwardDifferentiate between the two sets of financial statements produced by state and local governments.arrow_forwardMultiple choice:  In the reporting of governmental activities, fiscal accountability is demonstrated by: a. Both fund and government-wide financial statements. b. Government-wide financial statements. c. Neither fund nor government-wide financial statements. d. Fund financial statements.arrow_forward
- Governments often provide goods and services to citizens or other governmental units at a fee. These activities are accounted for in: a. the general fund b. governmental funds c. proprietary funds d. special revenue fundsarrow_forwardWhich of the following is true regarding the government-wide financial statements? a. The government-wide financial statements include the statement of net position and the statement of activities. b. The government-wide financial statements are to be prepared using the economic resources measurement focus and the accrual basis of accounting. c. The government-wide financial statements include information for governmental activities, business-type activities, the total primary government, and its component units. d. All of the above are true.arrow_forwardWhat are the two major divisions reported in government-wide financial statements? What funds are reported in these financial statements?arrow_forward
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