ACC 460 Week 2 Exercise 7-16 Multiple Choice Assignment
$3.00

ACC 460 Week 2 Exercise 7-16 Multiple Choice Assignment

This Tutorial was purchased 1 times & rated No rating by student like you.

 

This Tutorial contains following Attachments

  • ACC 460 La Week 2 Exercise 7-16 Multiple Choice Assignment.docx

Complete the following multiple choice questions in Exercise 7-16, p. 294: • 1-10 Click the Assignment Files tab to submit your assignment. Multiple Choice. Choose the best answer. 1. Within the government-wide financial statements, the column for Business-type Activities will generally include: a. Internal service funds only. b. Enterprise funds only. c. All internal service fund and enterprise fund transactions added together and accounted for on the accrual basis of accounting. d. All enterprise fund transactions and only the internal service fund transactions undertaken with governmental funds on the accrual basis of accounting. 2. Which of the following would most likely be accounted for in an internal service fund? a. The city pool. b. The city's investments, which are pooled with the county's and the school district's investments. c. An asphalt plant used to supply the asphalt needed to resurface the city's streets. d. Proceeds from an endowment that are used to maintain the city's library. 3. Under GASB standards, the City of Parkview is required to use an enterprise fund to account for its nature center if: a. It charges fees to assist in paying for the maintenance of the nature center. b. The Nature Center was originally financed through the issuance of general obligation bonds. c. The ordinance that was passed to establish the nature center requires that all costs of the Nature Center be paid for by user fees. d. All of the above are true. 4. During 2017, the Gateway City government recorded a $15,000 transfer from the General Fund to an internal service fund; a $25,000 transfer from the General Fund to an enterprise fund; a $10,000 transfer from an enterprise fund to an internal service fund, and a $5,000 transfer from an enterprise fund to the General Fund. In the Business-type Activities column of the government-wide financial statements, Gateway City should report: a. Net transfers out of $5,000. b. Net transfers in of $10,000. c. Net Transfers in of $25,000. d. Net Transfers in of $35,000. 5. Which of the following events would generally be classified as nonoperating on an enterprise fund's statement of revenues, expenses, and changes in net position? a. Billing other funds of the same government for services. b. Loss on the sale of a piece of equipment. c. Depreciation expense. d. Administrative expense. 6. In reviewing the accounting records of the Transportation Services Fund, an internal service fund of Douglas City, you notice that the fund uses budgetary accounts. This is most likely because a. The administrators of the fund prefer to prepare a budget to use in managing the fund. b. GASB requires the use of budgetary accounts in internal service funds. c. The city council must legally approve the fund's budget. d. The accountants for the fund are unfamiliar with proper accounting procedures for a proprietary fund. 7. Under GASB standards, which of the following events would be classified as an investing activity on a proprietary fund's statement of cash flows? a. Interest earned on certificates of deposit held by the proprietary fund. b. Purchase of equipment for use by the proprietary fund. c. Grant received to construct a building that will be used by the proprietary fund. d. All of the above would be considered investing activities for reporting purposes. 8. An internal service fund used for insurance activities should recognize an expense and a liability when: a. A claim has been made, it is reasonably possible that a liability has been incurred, and the amount will be reasonably estimable at some time in the near future. b. A claim has not been made, but it is reasonably possible that a liability has been incurred or an asset has been impaired, and an amount can be reasonably estimated. c. A claim has been made, it is probable that an asset has been impaired, and the amount will be reasonably estimable at some time in the near future. d. A claim has been made, it is probable that a liability has been incurred, and the amount can be reasonably estimated. 9. During the year an enterprise fund purchased $230,000 worth of equipment. The equipment was acquired with a cash down payment of $30,000 and a $200,000 loan. A partial year of depreciation on the equipment was taken in the amount of $23,000. What is the net effect of this transaction on the net position accounts of the enterprise fund? a. Net investment in capital assets is increased by $7,000. b. Net investment in capital assets is increased by $30,000. c. Net investment in capital assets is increased by $207,000. d. Net investment in capital assets is increased by $230,000. 10. Tinsel Town had the following long-term liabilities at year end: What amount should be recorded as long-term liabilities in the proprietary fund financial statements? a. $0. b. $200,000. c. $250,000. d. $450,000.

Write a review

Order Id


Order Id will be kept Confidential
Your Name:


Your Review:
Rating:   A   B   C   D   F  

Enter the code in the box below:



Related Tutorials
$50.00

This Tutorial was purchased 38 times & rated A+ by student like you.

ACC 460 Week 1 Case 1-14 Research Case- Comparing Financial Reporting Objectives ACC 460 Week 1 Ex 2-16 Matching Fund Types with Fund Categories ACC 460 Week 1 Ex 3-22 Recording General Fund Operating Budget and Operating Transactions ACC 460 Week 2 Team Simulation Assignment ACC 460 Wee..
$4.00

This Tutorial was purchased 30 times & rated A+ by student like you.

Complete Exercise 16-19, a and b, p. 679. Click the Assignment Files tab to submit your assignment. Revenue and Related Transactions. During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, had the following revenue-related transactions (amounts summ..
$3.00

This Tutorial was purchased 5 times & rated No rating by student like you.

Complete Question 15-1, p. 632, in approximately 30 to 90 words. Click the Assignment Files tab to submit your assignment. Identify the financial statements that must be prepared by a private college or university and those that must be prepared by a public college or university. ..
$4.00

This Tutorial was purchased 11 times & rated A by student like you.

This Tutorial contains 2 Papers Access the University Library. Research a current article regarding accounting in government. Write a summary of the article in 350 to 700 words. Apply concepts you've learned in this course to assessing the content of the article and any outcomes the article de..
$7.00

This Tutorial was purchased 37 times & rated A+ by student like you.

Complete questions 15-17, a and b. Click the Assignment Files tab to submit your assignment. Private College Transactions. Steiner College's statement of financial position for the year ended June 30, 2016, is presented here. Steiner is a private college. The following transaction information..
$3.00

This Tutorial was purchased 5 times & rated B+ by student like you.

Complete questions 14-1 and 14-4 in approximately 30 to 90 words each. Click the Assignment Files tab to submit your assignment. 14-1 Identify which level(s) of government regulate(s) NFP organizations and identify the source of authority. 14-4 What are the distinguishing characteristics betw..
$3.00

This Tutorial was purchased 8 times & rated A by student like you.

Complete the multiple choice questions in Exercise 13-14, p. 563: • 1-10 Click the Assignment Files tab to submit your assignment. Multiple Choice. Choose the best answer. 1. Which of the following organizations would be considered a nongovernmental not-for-profit organization? a. An organiza..
$4.00

This Tutorial was purchased 6 times & rated No rating by student like you.

Complete the following questions in Exercise 13-20, p. 570: • 1-5 Click the Assignment Files tab to submit your assignment. Recording Revenue and Related Expense Transactions. The Shannon Community Kitchen provides hot meals to homeless and low-income individuals and families; it is the organiz..
$3.00

This Tutorial was purchased 4 times & rated No rating by student like you.

Complete the multiple choice questions in Exercise 12-15, p. 510: • 1-10 Click the Assignment Files tab to submit your assignment. Multiple Choice. Choose the best answer. 1. Budgets of government entities: a. Are integrated with the financial accounting system. b. Enable governments to demo..
$4.00

This Tutorial was purchased 12 times & rated A+ by student like you.

Complete the following in Exercise 10-20: • a and b, p. 436 Limit the number of financial performance measures to three for the City of Arborland. Click the Assignment Files tab to submit your assignment. Comparative Ratios. The government-wide financial statements for the City of Arborland f..
$4.00

This Tutorial was purchased 9 times & rated A by student like you.

Utilize the CAFR obtained for 4-15 in Week 2. Complete the following in Exercise 9-15: • A • B (1) • C on p. 397 Click the Assignment Files tab to submit your assignment. Examine the CAFR. Utilizing the CAFR obtained for Exercise 1-16 and your answers to the questions asked in Exercise 1-16 ..
$8.00

This Tutorial was purchased 19 times & rated A by student like you.

Access the McGraw-Hill Connect simulation. Each team member must complete the simulation activity. This week you will complete Ch. 4, which can be found in the Connect Guide. Discuss, as a team, your experiences and key concepts learned. Each team member will receive points, at the instructor's ..
$3.00

This Tutorial was purchased 4 times & rated No rating by student like you.

Complete the following questions in Ch. 8 in in 90 to 175 words each: • 8-1 • 8-2 • 8-3 on p. 339 Click the Assignment Files tab to submit your assignment. 8-1. Explain the distinction(s) between agency funds and trust funds. What financial statements are prepared for each? 8-2. Identify the d..
$3.00

This Tutorial was purchased 1 times & rated No rating by student like you.

Complete the following multiple choice questions in Exercise 7-16, p. 294: • 1-10 Click the Assignment Files tab to submit your assignment. Multiple Choice. Choose the best answer. 1. Within the government-wide financial statements, the column for Business-type Activities will generally include:..
$4.00

This Tutorial was purchased 6 times & rated A by student like you.

Complete the following in Exercise 4-15: • a. (1) • b. (1) • c. (1) Download a copy of the most recent Comprehensive Annual Financial Report (CAFR) for a city of your choice. Note: many cities with 25,000 or more population provide Internet access to their CAFRs to answer. Click the Assignment..
$8.00

This Tutorial was purchased 18 times & rated A by student like you.

Access the McGraw-Hill Connect simulation. Each team member must complete the simulation activity. This week you will complete Ch. 1, 2, and 3, which can be found in the Connect Guide. Discuss, as a team, your experiences and key concepts learned. Each team member will receive points, at the ins..
$4.00

This Tutorial was purchased 7 times & rated A+ by student like you.

Complete Exercise 3-22, Recording General Fund Operating Budget and Operating Transactions (Requirements a and b). Click the Assignment Files tab to submit your assignment. 3-22 Recording General Fund Operating Budget and Operating Transactions. The Town of Bedford Falls approved a General Fund ..
$3.00

This Tutorial was purchased 2 times & rated No rating by student like you.

Complete Exercise 2-16, Matching Fund Types with Fund Categories. Click the Assignment Files tab to submit your assignment. 2-16 Matching Fund Types with Fund Categories. For each of the following fund types, indicate its fund category by placing either “GF” for governmental funds, “PF” for ..
$3.00

This Tutorial was purchased 2 times & rated A+ by student like you.

Review Ch. 1. Case 1-14, Research Case-GASB. Write a 175- to 350-word response. Compare the financial reporting needs of the resource providers of government/not-for-profit organizations to the financial reporting needs of the resource providers of for-profit organizations. Click the Assignment F..
$8.00

This Tutorial was purchased 8 times & rated A by student like you.

Analyze the financial statements and audit report of a not-for-profit organization readily and publically available on an active website. Create a 700- to 1,050-word overview of one not-for-profit organization in an area of interest to your team and review the financial statements and audit repor..
$7.00

This Tutorial was purchased 15 times & rated A+ by student like you.

Create a slide presentation of 10 to 12 slides. Address the following: • Examine FASB financial reporting requirements for a private college. • Apply basics of GAAP pertaining to categorizing restrictions on net assets. • Evaluate whether the entity is subject to the requirements of the Single A..
acc460help © 2017 All Rights Reserved.Powered by:Webzindagi