ACC 380 Week 1 Quiz

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1. Which of the following is true regarding the Budgetary Comparison Schedule?
2. Governmental funds do not include:
3. Under the modified accrual basis of accounting, expenditures should be recognized when:
4. Which of the following is not considered Required Supplementary Information (RSI)?
5. Which of the following is true regarding the government-wide Statement of Activities?
6. All of the following are commonly used major revenue source classes except for
7. According to GASB Statement No. 44, which of the following is not a recommended category for the CAFR’s statistical section?
8. The Governmental Accounting Standards Board has been given authority to establish accounting and financial reporting standards for:
9. Which of the following characteristics would not define an organization as governmental?
10. Which of the following is true regarding the composition of the Comprehensive Annual Financial Report (CAFR)?
11. Which of the following is not true regarding major fund reporting for governmental funds?
12. Which of the following items would typically not need an encumbrance?