Loose-leaf For Accounting For Governmental & Nonprofit Entities
Loose-leaf For Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781260190083
Author: Jacqueline L. Reck James E. Rooks Distinguished Professor, Suzanne Lowensohn, Daniel Neely
Publisher: McGraw-Hill Education
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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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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.
Distinguish 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 assets
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