7.

Net Assets (fund equity) are to be reported in two categories: assigned and unassigned. C) Assets are offset by an equal amount of liabilities. Following a decade of research and analysis, the GASB recently concluded that to meet the varied needs of a wide range of users, governmental reports must provide information regarding the public entity as a whole in addition to the traditional fund financial statements. A) Assets accounted for in an agency fund belong to the party or parties for which the government acts as agent. Fiduciary funds' financial statements include the Statement of Fiduciary Net Assets, the Statement of Changes in Fiduciary Net Assets, and the Statement of Fiduciary Cash Flows. 8. at the . With respect to Capital Projects Funds, which of the following is correct?

With respect to variable costs per unit, which of the following statements is true? 7) Correct option is a. A. Expenses are reported by function within two broad categories (program or supporting) in the Statement of Activities or in the notes . 10. Which of the following statements is not correct with respect to Agency Funds? With respect to Permanent Funds, which of the following is not true? 54 regarding committed funds? RSI must be presented showing annual pension information over 25 year intervals. c. Internal service funds account for long-term debt but not long-term fixed assets. Capital project funds have the following characteristics 5. Learn vocabulary, terms, and more with flashcards, games, and other study tools. B) These constraints are easily changed by administrators. If a trust is to be used for the benefit individuals, private organizations or other governments, the following fund(s) should be used: 9. With respect to Capital Projects Funds, which of the following is correct? Which of the following statements is false? Which of the following is correct with respect to Internal Service Funds? 32. MASTERS OF LAW . VANASHREE DAVID . Which of the following statements is correct regarding the fiduciary duty A A from BUSINESS L 101 at East Carolina University UNIVERSITY OF SOUTH AFRICA . SUPERVISOR: PROFESSOR M SIGWADI . b. 8. A. Which of the following statements is not correct with respect to Agency Funds? C) Assets are offset by an equal amount of liabilities. (1.20 points) A They will increase as production decreases within the relevant range B They will decrease as production decreases within the relevant range C They will decrease as production increases within the relevant range D They will remain the same as production levels change within the relevant range Which of the following statements is false? a. O Custodial funds are fiduciary funds which are used when resources are held by a government in a trustee capacity but no trust agreement is in place. FEBRUARY 2012 . Offered Price: $ 35.00 Posted By: solutionshere Posted on: 12/23/2015 01:31 AM Due on: 01/22/2016 . 34. Which of the following statements is correct with respect to GASB Statement No. B) Assets are offset by an equal amount of liabilities. Which of the following is/are correct with respect to the report of expenses for a private not-for-profit? 33. 7. A gift of $3,000,000 to a city, to be invested permanently, with the proceeds to be used to maintain the city war memorials. B. With respect to government-wide statement, which of the following statements is correct? 75.


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