2009政府无利益会计期末考试试题和答案.docVIP

ACCY 161 – Spring 2009 Final Exam May 19th PAGE  Page  PAGE 3 of  NUMPAGES 4 Pring Your Name: ________________________________________________ and on the Scantron as well 60 points – 30 questions - two points each. Answer each question as indicated. I would also recommend that you put your answer on the exam as well. Choose what you think is the best answer. If you think a question is unclear, put a comment on the exam under or next to the question. The accounting system used by a state or local government must make it possible?? To prepare consolidated accrual basis statements for the government as a whole. To prepare financial statements as required by the Financial Accounting Standards Board. To present fairly the financial position and results of financial operations of the government as a whole, as well as fund financial activity in conformity with GAAP, and to demonstrate compliance with finance-related legal and contractual provisions. All of the above. Fiscal accountability includes: whether or not the government has raised and spend fund in accordance with a approved budget compliance with laws and regulations operational efficiency both whether or not the government has raised and spend fund in accordance with a approved budget and compliance with laws and regulations whether or not the government has raised and spend fund in accordance with a approved budget and compliance with laws and regulations and operational efficiency For governmental accounting and reporting, the reporting entity consists of: the primary government only the primary government and component units the primary government and component units and other smaller units within the geographical boundaries of the primary government. as directed by the state legislation that established the primary government. none of the above describe the reporting entity. Interfund transfers and debt issue proceeds received by the General Fund would be recorded as other financing sources