I am not sure in my answers.
Could you please help me?
1. Non-for-profit and governmental entities differ from for-profit entities in that their operating purposes are other than to provide goods and services at a profit or profit equivalent. - False
2. Financial accounting foundation governs both non-governmental not-for-profit and governmental not-for-profit organizations - True
3. The two basis financial statements prescribed by GASB are government-wide and fund financial statements.
4. Interest due on long-term debt service fund would be captured on the fund statement - True
5. Proprietary Fund provide service only to the public - False
6. The balance of the supplies account on the statement of position would be captured in the nonspendable fund balance on the statement of net position on the fund statement - True
7. The general fund is always reported as a major fund on the fund statement - True
8. Each government has only one general fund - True
9. GASB requires all nonmajor funds to be aggregated in a single column - True
10. Fund balance to be reported on the fund balance sheet is divided into five categories - True
12. The government wide financial statement uses the current resource focus. - True
13. Other financing uses have the same impact on the fund financial statement as expenditures - False
14. Revenue is always recognized at the point when property taxes are levied - False
15. Appropriation is a budgetary control account for expenditures - False
16. When equipment is bought expenditures is debited under both the fund base and government wide financial statements - True
17. A credit to the budgetary fund balance account during the year end closing process means that the government had a planned deficit during the period - False
18. Encumbrances are usually used to record commitments - True
19. When taxes are levied revenues are reduced by the estimate uncollectible amount - False
20. Tax anticipation notes would be recorded as a liability and represent borrowing secured by future tax revenues - True
21. The purchase or consumption method may be used to account for supplies purchase on the fund base financial statement - True
22. Under the consumption method expenditures would be debited at the time of purchase - False
23. Grants are always recognized as revenue when announced - False
24. Interperiod allocation is a term used when revenues are sufficient to cover expenditures during a fiscal year - True
25. Current resource focus is more closely related to fiscal responsibility than economic resource focus - False
26. When accounting for a capital lease transaction "other financing sources" is credited in the initial entry for fund accounting is utilized - True
27.The proceed from sale of a capital lease is credited to "other financing sources" when using fund accounting - True
28. A purchase of a capital asset is recorded as a debit to expenditures in the government wide financial statement a debited to related capital asset account in the fund statement - True
29. The American Diabetes association would not be considered a VHWO - True
30. The ability to levy taxes is one characteristic of a government not-for-profit organization - False
31. GASB governs public and private not-for-profit organizations - False
32. FASB requires that all VHWO to prepare statement of functional expenses - False
33. Accrual accounting is generally used to account for not for profit expenses - False
34. A sinking fund would most likely utilized in the general fund - False
35. Under fund accounting "property tax receivable -current" is credited property tax receivable -delinquent debited for the amount of pass due property tax - True
36. Investment in securities are normally carried at fair market value when using fund accounting - True
37. Board designated net assets are reported in the temporary restricted net assets section of the statement of Financial position of the not for profit organization - False
38. Temporary restricted gifts to acquire a building would be reported in the financing section of the statement of cash flows for a not for profit organization - True
39.All expenses are reported in either the unrestricted, temporary restricted and permanently restricted sections of the Not for profit consolidated statement of activities - True
False. The European Union involves itself in many areas of policy, such as health, social policy, defence, trade etc.
yes it was important
false
false
yes it was important
What is the probability of what?Guessing them all correctly?Getting half of the correct?Getting them all wrong?PLEASE be specific with your questions if you want WikiAnswers to help.
false!!!!!!!!
False. The European Union involves itself in many areas of policy, such as health, social policy, defence, trade etc.
Some people ask questions that are very difficult to answer or ask questions that break the rules of the site (in which case they will not be answered) but all the questions that appear are real questions asked by the users of WikiAnswers.com so they are not False questions.
This is a TRUE statement as opposed to a question. Please see related questions, if this was not a true/false question.
False, no
False, no
False, no
False
False
True or false questions are to make sure you're paying attention and understand the material. If you have been keeping up with your work, it will be obvious whether the statement is true or false.
false