Gasb 34 Study guides, Class notes & Summaries
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ACC 407 Exam 1 (Ch. 1-3) 2023 LATEST EXAM GRADED A+
- Exam (elaborations) • 15 pages • 2024
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Under GASB Statement 34, accrual accounting is used for: A. government-wide 
financial statements only. B. government-wide financial statements and proprietary 
fund financial statements only. 
C. government-wide, proprietary fund, and fiduciary fund financial statements only. 
D. government-wide and all fund financial statements. - ANSWER C. 
government-wide, proprietary fund, and fiduciary fund financial statements only. 
The Governmental Accounting Standards Board is assigned responsibility f...
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CGFM Exam 2 Questions & Answers Solved 100%
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I 1.The Defense Logistics Agency holds jet fuel as inventory, which it sells to support flight operations. The table on the left provides beginning/ending fiscal year 2017 inventory levels and purchase information. Assuming the agency uses the FIFO inventory valuation method, what was the cost of goods sold for jet fuel in fiscal year 2017? - Answer Correct Answer: $133.50 
 
I 2.In financial reporting, consistency of communication means - Answer Correct Answer: if accounting principles have cha...
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Advanced Accounting Final Exam Correct 100%
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Major funds - ANSWERSGeneral, Proprietary, Fidiciary 
 
Alice makes cash gift with no strings to political party - ANSWERSRevenue, unrestricted contribution 
 
Which of the following are fiduciary - ANSWERSPensions, Agency 
 
Which organization has jurisdiction for private university - ANSWERSFASB 
 
Revenue from property tax are recorded when - ANSWERSMeasurable and available 
 
Expenditures are what - ANSWERSDecreases in financial resources 
 
Following is a type of proprietary fund - ANSWERSE...
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Test Bank for Accounting for Governmental & Nonprofit Entities 19th Edition By Jacqueline Reck
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Version 1 1 
Test Bank for Accounting for Governmental & Nonprofit Entities 19th Edition By 
Jacqueline Reck 
Version 1 2 
Student name:__________ 
1) Explain the essential differences between general purpose and special purpose 
governments and give several examples of each. 
2) Identify and explain the characteristics that distinguish governments and not-for-profit 
entities from business entities. 
3) GASB and FASB standards are concerned only with external financial reporting; 
whereas, ...
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Test Bank for Accounting for Governmental & Nonprofit Entities 17th edition by reck
- Exam (elaborations) • 921 pages • 2023
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Chapter 03 
Governmental Operating Statement Accounts; Budgetary Accounting 
 
 
True / False Questions 
 
1.	Fund-based financial statements are intended to provide detailed financial information about the governmental, proprietary, and fiduciary activities of the primary government. 
 
True False 
 
2.	Government-wide financial statements include financial information for all governmental, proprietary, and fiduciary funds. 
 
True False 
 
3.	The government-wide statement of ne...
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Test Bank for Accounting for Governmental & Nonprofit Entities 19th Edition By Jacqueline Reck
- Exam (elaborations) • 448 pages • 2024
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Version 1 1 
Test Bank for Accounting for Governmental & Nonprofit Entities 19th Edition By 
Jacqueline Reck 
Version 1 2 
Student name:__________ 
1) Explain the essential differences between general purpose and special purpose 
governments and give several examples of each. 
2) Identify and explain the characteristics that distinguish governments and not-for-profit 
entities from business entities. 
3) GASB and FASB standards are concerned only with external financial reporting; 
whereas, ...
-
CGFM Exam 2 Questions and Answers 2023
- Exam (elaborations) • 16 pages • 2023
- Available in package deal
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I 1.The Defense Logistics Agency holds jet fuel as inventory, which it sells to support flight operations. The table on the left provides beginning/ending fiscal year 2017 inventory levels and purchase information. Assuming the agency uses the FIFO inventory valuation method, what was the cost of goods sold for jet fuel in fiscal year 2017? - ANSWER-Correct Answer: $133.50 
 
I 2.In financial reporting, consistency of communication means - ANSWER-Correct Answer: if accounting principles have cha...
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Solution Manual For Financial Statement Analysis, 13th Edition By Charles H. Gibson || All Verified Chapters (1 - 13) | Complete Newest Version 2024 A+
- Exam (elaborations) • 401 pages • 2024
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Solution Manual For Financial Statement Analysis, 13th Edition By Charles H. Gibson || All Verified Chapters (1 - 13) | Complete Newest Version 2024 A+ 
1 
© 2013 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from 
the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. 
Chapter 1 
Introduction to Financial Reporting 
QUESTIONS 
1- 1. a. The A...
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Accounting for Governmental Nonprofit 16th Edition by Reck Solution Manual
- Exam (elaborations) • 22 pages • 2024
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CHAPTER 17:	ACCOUNTING AND REPORTING FOR THE FEDERAL GOVERNMENT 
OUTLINE 
Number	Topic	Type/Task	Status 
(re: 15/e) 
Questions: 
17-1	Federal financial management responsibilities	Identify	New 
17-2	Federal GAAP hierarchy	Compare	New 
17-3	Conceptual framework	Describe	11-3 
17-4	Accounts used in federal accounting 	Explain	11-4 
17-5	Net position and net assets	Compare	11-5 
17-6	FASAB compared to GASB 	Contrast	11-6 
17-7	Federal funds	Identify, compare	New 
17-8	Stewardship assets	Define, ...
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Gleim's CPA Test Prep Auditing
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Gleim's CPA Test Prep Auditing [1] Which of the following is required documentation in an audit in accordance with generally accepted auditing standards? A. A flowchart or narrative of the accounting system describing the recording and classification of transactions for financial reporting. B. An audit program setting forth in detail the procedures necessary to accomplish the engagement's objectives. C. A planning memorandum establishing the timing of the audit procedures and coordinating the ...
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