risks
Q: Which of the following funds is used to account for government sponsored investment pools that…
A: An Investment Trust Fund is a fund that develops when the government sponsors a multi-government…
Q: a. The purchase of mutual fund shares. b. Depositing in a credit union. c. Borrowing from a friend…
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A:
Q: Government policies that focus on the aggregate safety and soundness of the financial system are…
A: Answer: The correct answer is option A. Macro-prudential supervision.
Q: Which trust fund has assets always equal to liabilities with never a fund balance. O a. Pension…
A: Capital projects funds are utilised for accounting the financial resources which is in turn used for…
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A: Answer: The correct answer is option (D)
Q: A board sets aside resources to earn investment income to support general operations. Would the…
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A: Note: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered…
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Q: governmental funds
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Q: governmental funds in fund accounting is a(n): a. Economic Resource Measurement Focus. b.…
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Q: Which of the following funds are classified as proprietary funds? Group of answer choices a.)…
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A: The personal financial environment refers to the part of finance that includes the investing and…
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Q: What are some major adjustments required when converting from fund financial statements to…
A: major adjustment for converting from fund financial statements to government-wide statements are…
Q: Explain the modified accrual basis of accounting. Why is it used for governmental fund financial…
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- Outline the main risks Treasurers and Fund Managers deal with in managing their short- and long-term financial obligations.
- State the impacts the risks, in part C, have on the business of Treasurers and Fund Managers.
- State management options available to Treasurers and Fund Managers on how they mitigate risks noted in part C.
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- The focus of governmental funds in fund accounting is a(n): a. Economic Resource Measurement Focus. b. Financial Resources Measurement Focus. c. Cash Flow Measurement Focus. d. Accrual Measurement Focus.This problem has two parts, part a and part b. Answer each part separately using the same information. Do not mix answers to a and b; they are answered separately. Problem a: Using the list of transactions below, provide all necessary journal entries for the Fund statements. You also need to identify which funds are involved in the transaction, such as the Capital projects fund, Debt service fund Special revenue fund, or Permanent fund. Problem b: Using the same list of transactions, provide all necessary journal entries for the Governmental Activities section in the Government-wide statements. Write “no entry” if no entry is needed. Dunellen City, covered in this problem, issues a $10,000,000 bond at face value. The cash is to be used for the construction of a fire station. Previously undesignated cash of $100,000 from the General Fund is set aside to begin paying the bonds issued in item (1). A state cash grant of $300,000 is received that must be spent in the future for…Indicate whether the item in each column is reported in the financial statements of the fund types listed below by clicking the corresponding boxes. If an item does not apply, leave the corresponding box blank. You may check more than one box for each item. Statement Capital assets Long - term liabilities Encumbrances 1. General fund 2. Special revenue funds 3. Capital projects funds 4. Debt service funds 5. Permanent funds 6. Enterprise funds 7. Internal service funds 8. Pension (and other employee benefit) trust funds 9. Investment trust funds 10. Private-purpose trust funds 11. Custodial funds
- 8 The basis of accounting that should be used in preparing fund financial statements is: Governmental funds Proprietary funds Fiduciary funds A) Modified accrual Accrual Modified accrual B) Modified accrual Modified accrual Modified accrual C) Modified accrual Accrual Accrual D) Accrual Accrual Accrual Multiple Choice Choice A Choice B Choice C Choice DAll proprietary fund financial information is reported in the Business-type Activities column of the government-wide financial statements. a. True O b. FalseFor a government that has a trust fund in which it is accumulating sufficient assets to pay OPEB, the net OPEB liability should be reported in both the governmental fund balance sheet and the government- wide statement of net position. A. True B. False
- Which financial statements are prepared using modified accrual accounting? A) Proprietary fund financial statements. B) Governmental fund financial statements. C) Government-wide financial statements. D) Both A. and B. E) Both B and C.A board sets aside resources to earn investment income to support general operations. Would the resrources set aside be recorded in a fund with donor restrictions or a fund without donor restrictions? Would the earnings be recorded in a fund with donor restrictions or a fund without donor restrictions?Discuss the purpose of the capital projects fund, debt service fund, and permanent fund. Describe the difference between government-wide financial statements and fund-basis financial statements. Why is it necessary for the federal government accounting standards to differ from state and local governments accounting standards?
- All qualified plans must have fiduciaries who must act in the best interests of the plan participants and their beneficiaries. Which of the following is a breach of fiduciary responsibilities? Select one: a. Making a bad investment based on professional advice and conducting appropriate due diligence. b. Making sure the plan investments are diversified. c. Making decisions in the interest of the plan sponsor. d. Paying for educational seminars that are reasonable in cost and substantiate attendance in a high percentage of presentation sessions.Which of the following organizations/entities does a mutual fund appoint to collect money received fromthe fund's purchasers and from portfolio income, as well as to arrange for cash distributions? a) A fundcustodian. b) A fund distributer c) A fund principal. d) A fund managerList some of the major adjustments required when converting from fund financial statements to governmentwide statements. Why are these adjustments necessary?
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