Wgu c252 chapter 2 stuvia - Study guides, Class notes & Summaries

WGU Practice Questions C252 Chapter 10 with Complete Solutions WGU Practice Questions C252 Chapter 10 with Complete Solutions WGU Practice Questions C252 Chapter 10 with Complete Solutions 1. The use of an Enterprise Fund is required by generally accepted accounting principles in each of the following situations except a. When user fees are charged for the majority of the activity's operations. b. When an activity is financed with debt that is secured solely by the pledge of re...

WGU Practice Questions C252 Chapter 13 with Answers 100% Verified WGU Practice Questions C252 Chapter 13 with Answers 100% Verified WGU Practice Questions C252 Chapter 13 with Answers 100% Verified 1. When preparing external financial statements that are in accordance with generally accepted accounting principles, the minimum financial report will include a. Basic financial statements, management's discussion and analysis, and other required supplementary information. b. A compre...

WGU C252 Practice Questions Chapter 5 Questions and Answers 100% Correct WGU C252 Practice Questions Chapter 5 Questions and Answers 100% Correct WGU C252 Practice Questions Chapter 5 Questions and Answers 100% Correct 1. Under the modified accrual basis, revenues are considered susceptible to accrual if a. Available to finance current period expenditures. b. Objectively measurable. c. Collected during the current period. d. Both available to finance current period expenditures an...

WGU Practice Questions C252 Chapter 2 Questions and Answers (Graded A) WGU Practice Questions C252 Chapter 2 Questions and Answers (Graded A) WGU Practice Questions C252 Chapter 2 Questions and Answers (Graded A) 1. If a government is obligated to legally report information in a manner that differs from GAAP a. GAAP take precedence over the legal requirements. b. Legal requirements take precedence over GAAP. c. Both GAAP requirements and legal requirements must be met. d. Informatio...

WGU Practice Questions C252 Chapter 15 with Complete SolutionsWGU Practice Questions C252 Chapter 15 with Complete SolutionsWGU Practice Questions C252 Chapter 15 with Complete SolutionsWGU Practice Questions C252 Chapter 15 with Complete Solutions 1. Which of the following must be included to meet the minimum requirements for general purpose external financial reporting? a. Basic financial statements, notes to the financial statements, management's discussion and analysis, and other require...

WGU Practice Questions C252 Chapter 12 with Answers (Graded A) WGU Practice Questions C252 Chapter 12 with Answers (Graded A) WGU Practice Questions C252 Chapter 12 with Answers (Graded A) 1. Which types of funds are classified as fiduciary funds? a. Pension trust, private-purpose trust, and Investment Trust Funds. b. Pension trust, permanent trust, and Agency Funds. c. Pension trust, private-purpose trust, investment trust, and Agency Funds. d. Expendable trust, nonexpendable tru...

WGU C252-Chapter 2 Questions and Answers 100% CorrectWGU C252-Chapter 2 Questions and Answers 100% CorrectWGU C252-Chapter 2 Questions and Answers 100% CorrectWGU C252-Chapter 2 Questions and Answers 100% Correct If a government is obligated to legally report information in a manner that differs from GAAP then - - ANSWER-Both GAAP requirements and legal requirements must be met. Which of the following is considered a proprietary fund? a. General Fund b. Special Revenue Fund c. Perman...

WGU Practice Questions C252 Chapter 2 Questions and Answers (Graded A)WGU Practice Questions C252 Chapter 2 Questions and Answers (Graded A)WGU Practice Questions C252 Chapter 2 Questions and Answers (Graded A)WGU Practice Questions C252 Chapter 2 Questions and Answers (Graded A)WGU Practice Questions C252 Chapter 2 Questions and Answers (Graded A)WGU Practice Questions C252 Chapter 2 Questions and Answers (Graded A)WGU Practice Questions C252 Chapter 2 Questions and Answers (Graded A)WGU Practi...

3. As part of a government's basic financial statements and required supplementary information, a budgetary comparison statement or schedule should be presented as a. A basic Financial statement b. In the other information section of the CAFR c. Replace expense accounting in governments. d. Prevent government waste - ANSWER-A basic financial statement. 4. The purpose of encumbrance accounting is to a. Manage a government's cash flows b. Avoid expenditures exceeding appropriations c....

3. The operations of a city bus line receiving all its funding from user charges would be accounted for in a. A General Fund. b. An Enterprise Fund. c. An Internal Service Fund. d. A Special Revenue Fund. - ANSWER-b. An Enterprise Fund. 4. A government can only have one a. Capital Projects Fund. b. General Fund. c. Private-Purpose Trust Fund. d. Special Revenue Fund. - ANSWER-b. General Fund. 5. Which of the following is the basic proprietary fund accounting equation? a. Assets - ...