Accy 407 - Study guides, Class notes & Summaries

__ __ governments provide a broad array of services examples include: city of oxford, federal govt., & state of mississippi - general purpose __ __ governments usually provide only a single or just a few services examples include: public colleges, public hospitals, fire stations, & transportation authorities - special purpose characteristics distinguishing state&local governments and non-profits from business organizations: - - - - - receipts of significant amounts of resources from resou...

ACCY 407 (Govt. and NFP) Chapter 2 Exam Questions And Answers 100% Solved Governmental activities - answercore governmental services, together with general administrative support examples: police, fire protection, streets and highways, bridges, public buildings core services - answerprotection of life and property, public works, parks and recreation facilities and programs, educational, cultural and social services Business type activities - answerintended to be self-supporting by chargin...

ACCY 407 GOVT, Jones Ole Miss Exam One Questions And Answers 100% Verified 2024/2025 General Purpose Govt Provide a broad array of services for example: city of oxford, federal govt., state of Mississippi Special Purpose Govt Provide only a single or just a few servicesf or example: - public colleges, public hospitals, fire stations, transportation Non for Profit Orgs Legally separate entities that are usually exempt from federal, state, and local taxation for example: private colleges...

ACCY 407 exam #3 (ch. 7, 9,&14), Top Exam Questions and answers, 100% Accurate. VERIFIED. The following cash transactions were among those reported by Genesee County's Wastewater Enterprise Fund for the year: Proceeds from sale of revenue bonds for construction ... $5,000,000 Interest income ... $300,000 Capital contributed by developers... $1,000,000 In the Wastewater Enterprise Fund's statement of cash flows for the year ended December 31, what amount should be reported as cash fl...

ACCY 407 GOVT, Jones Ole Miss Exam One Questions And Answers 100% Verified 2024/2025 General Purpose Govt Provide a broad array of services for example: city of oxford, federal govt., state of Mississippi Special Purpose Govt Provide only a single or just a few servicesf or example: - public colleges, public hospitals, fire stations, transportation Non for Profit Orgs Legally separate entities that are usually exempt from federal, state, and local taxation for example: private colleges...

The basic financial statements of a not-for-profit include all of the following except a. Statement of activities. b. Statement of financial position. c. Statement of cash flows. d. Statement of changes in functional expenses. - d Which of the following would typically not be included in the introductory section of a comprehensive annual financial report? a. Summary of the government's current financial position and results of financial activities. b. Title and contents page. c. Letter...

ACCY 407 Exam 1, Top Questions and answers, 100% Accurate. Graded A+ a broad array - -a broad arraygeneral purpose governments provide _____ services city of oxford, federal government, state government, cities, towns, counties - -what are some examples of general purpose governments interdependent school system, public colleges & universities, fire protection districts - -what are some examples of special purpose governments legally separate - -not-for-profit organizations are ___...

ACCY 407 Chapter 7, top Exam Questions and answers, 100% Accurate. VERIFIED. Accounting Characteristics of Proprietary Funds __________ basis of accounting - -Accural ___________ and _______________ recorded within the funds ____________ and _________ are recorded and reported - -Capital assets, long-term liabilities Depreciation expense, accumulated depreciation _______________rather than fixed budgets recommended: Generally budgetary accounts are not integrated into t...

ACCY 407 Final, Exam Questions and answers, 100% Accurate. VERIFIED. Accountability - --cornerstone of all governmental financial reporting -arises from citizens' "right to know" -Imposes a duty on public officials to be accountable to citizens for raising public moneys Budgetary Fund Balance - -Amount left to spend for the respective budget account CAFR - -Introductory Section: presents subjective information (table of contents, letter of transmittal, etc.) Financial Section:...

ACCY 407 ch 1 Questions and answers, graded A+ 2 types of governments - 1. general purpose (broad array) 2. special purpose (single/few services) not-for-profit organizations - -legally separate -usually exempt from taxation difference between local governments/NFPs from businesses - -providers do not expect to receive repayment/economic benefits proportionate to resources provided -operating purposes other than good/services at a profit -no defined ownership interest that can be ...