ACC 410 ACC410 Quiz 2 (Strayer)

ACC 410 Quiz 2

This quiz consist of 30 multiple choice questions. The first 15 questions cover the material in Chapter 2. The second 15 questions cover the material in Chapter 3.

Which of the following liabilities would NOT be found in the fund balance sheet of the General Fund of the City of Marmaduke?

Which of the following is NOT a governmental fund?

Riverside Golf Course is a City-owned golf course that collects greens fees in amounts sufficient to cover its expenses.  Riverside Golf Course should be accounted for in which of the following funds?

For which of the following entities is fund accounting mandated?

Basis of accounting determines which of the following?

Which of the following funds is accounted for on the modified accrual basis of accounting?

Which of the following activities should the City of Highland account for in a trust fund?

To fulfill the printing needs of its various departments and agencies, the City has established a Central Print Shop which bills the various departments and agencies of the city for printing services rendered.  The Central Print Shop should be accounted for in which of the following funds.

Which of the following accounts would you least expect to see in a debt service fund?

Which of the following assets would NOT be found in the fund balance sheet of the General Fund of the City of Harrison?

Which of the following funds is a fiduciary fund?

A fund is

Which of the following funds is a proprietary fund?

The state collects a gasoline tax that must be used to support highway construction and maintenance.  The gasoline tax should be accounted for in which of the following funds?

__________ is governments’ responsibility to report the extent to which they have met their operating objectives efficiently and effectively, using all resources available for that purpose, and whether they can continue to meet their objectives for the foreseeable future.

In addition to government-wide statements, GASB Statement No. 34 requires fund financial statements be included in the government’s basic set of financial statements.  The basic fund financial statements that should be included for governmental funds are

How many government-wide statements is a municipality required to prepare?

In the fund financial statements, the statements for the governmental funds should be prepared using

Which of the following would NOT be found in the Statement of Net Assets of Teton City?

The aim of the government-wide statement of activities is to show

The government-wide statements should be prepared using

The focus of the Statement of Activities of the city of West Hills is on which of the following?

The Basic Financial Statements of a city do not include which of the following?

In the fund financial statements, the statements for the fiduciary funds should be prepared using

Under the new GASB reporting model for governmental entities, the entity-wide balance sheet will   display which of the following?

Which of the following is NOT considered Required Supplementary Information (RSI)?

In the fund financial statements, the statements for the proprietary funds should be prepared using

Which of the following would NOT be found in the business-type activity column of the government-wide Statement of Net Assets of the City of Smithville?

In addition to government-wide statements, GASB Statement No. 34 requires fund financial statements be included in the government’s basic set of financial statements.  The basic fund financial statements that should be included for fiduciary funds are