Discuss the federal government’s contracting programs.

Q: Which of the following funds is used to account for government sponsored investment pools that…

A: An Investment Trust Fund is a fund that develops when the government sponsors a multi-government…

Q: What are some of the functions of a state board of public accountancy?

A:

Q: What is the requirement on Federal Truth-in-Lending (FTL)?

A: Following are the requirements of Federal Truth-in-Lending (FTL):   The financial data: The plan of…

Q: w does a company determine if it should use an ABO, PBO, or VBO calculation? Is the determination…

A: ABO The estimated amount of a company's pension plan commitment at any one time is known as the…

Q: How have users’ needs impacted the development of accounting principles for state and local…

A: Accounting principles refers to the set of rules and regulations which companies must follow in…

Q: the fund-based and government-wide financial statements of a state or local government and the…

A: Not-for-profit (NFP) entities:It is an individual or group of people who work together to attain…

Q: What are the key sources of revenues among the federal, state, and local governments? What are the…

A: Federal Government revenue comes from individual income taxes, corporate income taxes, and payroll…

Q: Provide example of an internal service funds, describe the services provided and received within the…

A: Introduction:- An Internal Service Fund is one that primarily offers benefits, commodities, or…

Q: expenditure and ho

A: Reasons for India's rising govt expenditures include: (i) Development Programs: The majority of…

Q: Required: For each of the costs listed, indicate with an A (allowable) if the cost is always…

A: Disallowed costs Costs that are not allowed under federal grant in accordance with Federal Statutes,…

Q: How to prepare financial statements for a government agency and non-profit organization?

A: Non-profit organization is an organization which works for the development of the society and not…

Q: How are internal service funds reported on government-wide financial statements?

A: A government-wide financial statement is a comprehensive summary of all the major government funds,…

Q: Can you explain and give examples of the key state assets that fall in the federal government…

A: Answer:-  Stewardship of state resources meaning:- The term "stewardship of state resources" refers…

Q: Government-wide financial statements make a distinction between program revenues and general…

A:

Q: federal government finance and service it outstanding debt

A: The national debt level of the United States is a measurement of how much the federal government…

Q: What is GSE (government-sponsored enterprise) debt?

A: Government-sponsored enterprises (GSEs) are the bonds which are supported by U.S. government. These…

Q: Preparation of government-wide statement of activities

A: Here wehave to understand that the property tax and sales tax is the general government revenue…

Q: Discuss the primary differences between U.S. GAAP and IFRS with respect to accounting for…

A: Under IFRS, defined benefit plan assets are valued at fair value. Under U.S. GAAP, defined benefit…

Q: ndholders. areholders. areholders and the federal government.

A: Interest tax sheild is the reduced cost of capital due to the advantages of tax deductions.

Q: rite the definition, recognition, measurement and derecognition of  GOVERNMENT GRANT.

A: Government grant:  It is the sum of the grant given to the business by the government that a…

Q: debt?

A: Introduction Deficit and Debt If the federal revenues and the government spending are equal in a…

Q: Compare the purchase and sale of government securities with the purchase and sale of agency…

A: Government Securities are the securities which are often sold by the government. Purchase and sale…

Q: Explain the oman government unit , Business type and fiduciary type with explain?

A: Governmental units are described as agencies, board, division, department, political subdivision,…

Q: n the United States, the __________, a government agency, has the legal authority to set GAAP.

A: Financial Accounting Standard board (FASB) is a government body established for the purpose of…

Q: services only to other departments or agencies of the government on a cost-reimbursement basis?…

A: Meaning of Inter Departmental Transactions Interdepartmental transactions are those transactions…

Q: What are some major adjustments required when converting from fund financial statements to…

A: major adjustment for converting from fund financial statements to government-wide statements are…

Q: Explain Government Procurement Rullings and Procedures.

A: A business will perform various transactions in its course of business. In a selling or purchasing…

Q: give the definition, recognition, measurement and derecognition of "government grant"

A: International Financial Reporting Standards, generally called IFRS, are the accounting standards…

Q: today, most federal regulations are exercises of what authority according to the commerce clause of…

A: Clause 3 of U.S .Constitution authorizes power to  congress to regulate the commerce with several…

Q: Which of the following government-wide accounts reflects amounts owed between governmental…

A: The internal balances account will be reported as an asset in the government wide financial…

Q: Which office maintains accounts of financial transactions of all national government offices,…

A: Government Accounting is a process of recording, classifying, analysing and communicating all the…

Q: Which of the following is a governmental fund? Special revenue fund Internal service fund Capital…

A: The different types of Governmental funds are explained below: General Fund- This fund is used to…

Q: What federal fund is most like a custodial fund used by state and local governments?

A: Here given the details of the federal fund which is treated as the custodial fund which can be used…

Q: Government-wide financial statements make a distinction between program revenues and general…

A: The correct answer is 1. Program revenues are offset against the expenses of a specific function;…

Q: Enumerate the objectives of the government accounting according to Section 110, Presidential Decree…

A: The government accounting is a new system of accounting in which the government accounting describes…

Q: Why does a government determine the net expenses or revenues for each of the functions within its…

A: Revenue: Revenue refers to the income received from the business activity or sale of the output,…

Q: Identify any differences between U.S. GAAP and International Financial Reporting Standards in…

A: