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Strayer ACC 410 Gov't, NonProfit Acc 410 Ch 1 Quiz




Question;? Question 1 As used by GASB, interperiod equity refers to which of the following? Financial reporting should:? Question 2 Which of the following is NOT an objective of financial reporting for not-for-profit entities as established by FASB? Financial reporting should provide information that is useful to present and potential resource providers and other users in:? Question 3 Given a specific set of data, the basis of accounting selected by or imposed on a governmental entity will least affect which of the following?? Question 4 A primary characteristic that distinguishes governmental entities from business entities is? Question 5 Which of the following characteristics is NOT a characteristic that may distinguish a governmental or not-for-profit entity from a business entity?? Question 6 Which of the following is NOT an objective of financial reporting by governmental entities as established by GASB?? Question 7 Which of the following statements is NOT true?? Question 8 Which of the following objectives is considered to be the cornerstone of financial reporting by a governmental entity?? Question 9 Governments and not-for-profits employ a system of accounting known as? Question 10 Which of the following is NOT a reason that users of government and not-for-profit external financial statements need to have information to enable them to assess the financial condition of a government?? Question 11 The primary standard-setting body for accounting and financial reporting by a state-supported college or university is:? Question 12 A regulatory agency would use the external financial statements of a local government for which of the following purposes?? Question 13 Which of the following is NOT a purpose of external financial reporting by governments? External financial reports should allow users to? Question 14 Which of the following is NOT generally considered a main user of government and not-for-profit entity external financial statements?? Question 15 Which of the following rule-making authorities would establish accounting standards for all nongovernment not-for-profits?


Paper#41532 | Written in 18-Jul-2015

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