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- -------- is the sacrifice resources of the government Select one: a. Owners Equity b. Income c. Liabilities d. AssetsA primary distinction between the flow of resources through a business enterprise and through a governmental entity is that operations in a governmental entity consume resources and assets to a. produce goods and services to citizens entitled to receive them b. generate return on investment. c. generate net income. d. generate capital for future investments.What is the purpose of enterprise funds? Choose the correct.a. To account for operations that provide services to other departments within a government.b. To account for asset transfers.c. To account for ongoing activities such as the police and fire departments.d. To account for operations financed in whole or in part by outside user charges.
- Which governmental fund includes resources that are legally restricted so that the governmental entity must maintain the principal and can use only the earnings from the fund's resources to benefit the government's programs for all of its citizens? Group of answer choices a.) Capital projects fund b.) Permanent fund c.) Agency fundWhich one is among the non-government’s sources to finance a project. (a)Loan (b) grants (c) government bonds (d) government shares (e) none of theseWhich of the following best defines stakeholders? A. investors and lenders B. environmental groups C. anyone directly or indirectly affected by the organization D. groups or individuals financially impacted by the organization
- Which of the following is not a category of program revenue reported on the statement of activities at the government wide level? a. General program revenue b. Charge for services c. Operating grants and contribution d. Capital grants and contributionGovernment Accounting-you will do a 5 page power point slide presentation and use the GASB codification as your guidance. Please include the following: Explain what the CAFR is Provide an outline for the minimum content of a CAFR Select a local CAFR (I can help you with this step) and identify the following: a. the entity’s most significant source of revenues and most significant expense; b. the entity’s most significant asset, and its most significant liability; c. two of the individual funds used by the government d. who prepared the report; e. who audited the report, and using what auditing standards.b) The concept of Value for Money (VFM) in the public sector has been associated with the5Es. The relevant elements of the VFM can be applied as an assessment tool for almost allgovernment programmes/projects. Using relevant public sector examples, you are requiredto:i) Demonstrate how the concept of VFM is applied in the distribution of the DistrictAssembly Common Fund (DACF)ii) Demonstrate how the concept of VFM can be used to attain the objective(s) ofpublic procurement
- What benefits are derived from including the management’s discussion and analysis in state and local governmental financial reports? What information is required to be included in the MD&A?Complete the blank as appropriate: Governmental financial reporting focuses on stewardship and .......In a governmental fund, which of the following is considered an expenditure? a. The purchase of a capital asset b. The consumption of supplies c. Salaries earned by employees d. All of the above