Acct 567 Final Exam Keller - Updated 19 Pages

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ACCT 567 Final Exam Keller - Updated 19 Pages

IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwspeed.com/Keller-ACCT-567-Final-Exam-Updated-7778321.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com 1. (TCO A) On what should the government-wide financial statements report? (Points : 5) Net position and results of the financial operations of the government as a whole. Budgetary Compliance The cost of government services Fiscal accountability 1. (TCO A) Which of the following groups is considered a primary user of a state or local government’s general-purpose external financial statements? (Points : 5) Managers and administrators Employees Special Interest Groups Citizens

(TCO A) Which of the following statements should be prepared by all not-for-profit organizations? (Points : 5) (A) Statement of functional expenses (B) Statement of revenues, expenses, and changes in net position (C) Statement of financial position Both A and B

2. (TCO B) According to GASB standards, when should transfers be recognized? (Points : 5) When earned. When collected in cash. When authorized by the budget ordinance. In the period the interfund receivable and payable arise.

3. (TCO C) Comparisons of budgeted versus actual revenues and expenditures are a requirement of which of the following situations? (Points : 5) Required by GAAP for the general fund and major special revenue funds for which an annual budget has been legally adopted. Required by GAAP for all government fund types. Required by GAAP for internal management reports only, they are not permitted for external financial reporting. It is optional…...

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