Accounting for Governmental & Nonprofit Entities
17th Edition
ISBN: 9780078025822
Author: Jacqueline L. Reck James E. Rooks Distinguished Professor, Suzanne Lowensohn, Earl R Wilson
Publisher: McGraw-Hill Education
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Chapter 12, Problem 10Q
To determine
Explain the sources used to determine the costs that are allowable under federal grants.
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Which of the following is an example of activities that are likely to be accounted for in a government's general fund?
a.
sales taxes collected by a state on behalf of counties within the state
b.
donations that must be kept intact, but whose income must be used to beautify parks
c.
property taxes levied and collected.
d.
electricity utilities of government that are financed by user charges
A capital projects fund would probably not be used for which of the following assets?
A. Construction and installation of new shelving in the mayor's office.
B, Replacing a bridge.
C. Financing and construction of three new fire substations.
D. Purchase and installation of an entity-wide integrated computer system.
If not expenditure driven, a grant approved and paid by the federal government to assist in a city’s welfare program during the current year should be credited to a. Revenues. b. Fund Balance—Reserved forWelfare Programs. c. Fund Balance—Unassigned. d. Other Financing Sources.
Chapter 12 Solutions
Accounting for Governmental & Nonprofit Entities
Ch. 12 - Are governments and not-for-profit organizations...Ch. 12 - What is the difference between two types of...Ch. 12 - Describe the advantages of performance budgeting...Ch. 12 - Prob. 4QCh. 12 - Identify some essential components of the annual...Ch. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - Prob. 9QCh. 12 - Prob. 10Q
Ch. 12 - Prob. 13CCh. 12 - Budgets of government entities a. Are integrated...Ch. 12 - Which of the following statements regarding...Ch. 12 - Which of the following steps would not usually be...Ch. 12 - The budgeting principle in generally accepted...Ch. 12 - Prob. 15.5EPCh. 12 - An approach to budgeting that requires the very...Ch. 12 - Which of the following does not represent a...Ch. 12 - Prob. 15.8EPCh. 12 - Prob. 15.9EPCh. 12 - Prob. 15.10EPCh. 12 - The police chief of the Town of Meridian submitted...Ch. 12 - Prob. 17EPCh. 12 - Prob. 18EPCh. 12 - Prob. 19EPCh. 12 - Prob. 20EPCh. 12 - The U.S. Office of Management and Budget (OMB)...
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- What federal fund is most like a custodial fund used by state and local governments?arrow_forwardTopic Please research an annual comprehensive financial report of any local municipality of your choice that had a general government capital construction project that was financed. Discuss the project and type of financing that the local government used, and opine on the other various financing options that the government could have used. In your opinion, did the local government use the most effective financing option? Why or why not? Note: Please provide a link to the referenced material used. This can be attached as a website link or a document (PDF/Word). Make sure to reference your source (using APA 7th edition).arrow_forwardGovernmental entities have one major advantage over nor-for-profit organizations, what is it? O a. All of the choices are valid reasons The fact that the budget gives them clear guidance The right to collect real estate taxes O b. Oc. O d. Oe. The right to compel resources Backing of the federal governmentarrow_forward
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