.
A software company that sells software exclusively to state and local governments
A public elementary school
A church
A private trust organized for charitable contributions
The Governmental Accounting Standards Board (GASB)
The Financial Accounting Standards Board (FASB)
The American Institute of Certified Public Accountants (AICPA)
The Financial Accounting Foundation
The Government Accounting Office (GAO)
Investors and creditors
Citizens
Governing boards
All of the above are considered to be primary users of external financial reports
Both items A and B
Most capital assets of business-type activities are considered to be revenue producing capital assets, while those in governmental-type activities generally are not
Business-type activities never have the power to levy a tax
Business-type activities do not adopt a budget
All of the above statements accurately reflect primary differences between business-type and governmental type activities
Items B and C only reflect primary differences between business-type and governmental-type activities
Borrowing is not a significant source of financing
The resource providers of G&NP organizations often do not receive serviced commensurate with the amount of resources they provide
Net income is an appropriate performance evaluations measurement for most of these organizations
Accumulating wealth on behalf of its constituents is a key goal of G&NP organizations and business enterprises
They are co-equal bodies with different areas of responsibility for standards setting
The FASB standards are authoritative for governments. However, the GASB asks the GASB to establish guidelines for many unique transactions of government that the FASB does not have time to consider
GASB standards are authoritative for governments unless they have been overruled by the FASB
Governments are not permitted to apply any FASB standard under any circumstances for any government operations
Government-wide financial statements
Management's discussion and analysis
Fund financial statements
Note disclosures
All of the above should be included in general purpose external financial reports
Items A and C only
General Fund
Enterprise Fund
Capital Projects Fund
Internal Service Fund
Permanent Fund
All capital assets acquired by a government entity regardless of the fund purchasing the assets
Capital assets acquired with governmental fund resources that will be used in governmental fund activities
Capital assets acquired with debt proceeds only
Capital assets that are used by a variety of governmental and proprietary funds
Capital assets that are solely revenue producing
General Fund
Debt Service Fund
Permanent Fund
Capital Projects Fund
Special Revenue Fund
Increase fund balance in the General Fund by $4,000,000
Decrease fund balance in the General Fund by $4,000,000
Increase fund balance in the Capital Projects Fund by $4,000,000
Decrease fund balance in the Capital Projects Fund by $4,000,000
Have no effect on the balance of the Capital Projects Fund
Decrease fund balance in the Capital Projects Fund by $1,000,000
Decrease fund balance in the Capital Projects Fund by $1,200,000
Decrease fund balance in the General Fund by $1,000,000
Decrease fund balance in the General Fund by $1,200,000
Increase capital assets reported in the General Fund by $250,000
Have no effect on capital assets in the General Fund, but will increase the total expenditures in the General Fund by $250,000
Increase capital assets reported in the General Fund by $250,000, as well as decrease fund balance in the General Fund by the same amount
Have no effect on capital assets or fund balance
Increase both capital assets and fund balance in the General Fund by $250,000
Increase expenditures reported in the General Fund by $6,000,000
Increase capital assets reported in the Capital Projects Fund by $6,000,000
Increase capital assets reported in the Enterprise Fund by $6,000,000
Increase expenses reported in the Enterprise Fund by $6,000,000
Salaries and Wages
Departmental supplied
Depreciation
Capital outlay
Debt service- principal and interest
All of the above would be classified as expenditures
A statement of net assets
A statement of activities
A statement of cash flows
All of the above
Items A & B only
None of the above
The General Fund
The Enterprise Fund
The Capital Projects Fund only
The General Fund, General Capital Assets Nonfund Account, and the General Long-Term Liability Nonfund Account
The Capital Projects Fund, General Capital Assets and General Long-Term Liabilities Nonfund Accounts
Fiduciary funds
Current funds
Governmental funds
Proprietary funds
Current fund
Expendable funds
Governmental funds
General capital asset funds
Agency Fund
Investment Trust Fund
Permanent Fund
Private-purpose Trust Fund
General Fund
Debt Service Fund
Permanent Fund
Internal Service Fund
General Fund
Capital Projects Fund
Special Revenue Fund
Long Term Debt Nonaccount Fund
A Capital Projects Fund
A Trust Fund
The General Fund
A Special Revenue Fund
A Capital Projects Fund
A Debt Service Fund
The General Fund
A Special Revenue Fund
A Capital Projects Fund
A Debt Service Fund
A Permanet Fund
A Special Revenue Fund