Question 1

The organization that currently establishes governmental accounting standards is the ________________________________________.

Accepted Answer

Governmental Accounting Standards Board

Question 2

The predecessor organization to the GASB was the ____________________________.

Accepted Answer

National Council on Governmental Accounting

Question 3

The organization that publishes GAAFR is the _________________________________.

Accepted Answer

Governmental Finance Officers Association

Question 4

For "governmental" funds, the measurement focus (what to measure) is on _________________________________________ at the fund-based reporting level.

Accepted Answer

The answer of For "governmental" funds, the measurement focus (what...

Question 5

In the broad sense, the use of financial resources of a fund is called a(n) ________ ________________________________.

Accepted Answer

The answer of In the broad sense, the use of...

Question 6

For governmental funds, the _______________________________________________ basis of accounting is to be used at the fund-based reporting level.

Accepted Answer

The answer of For governmental funds, the _______________________________________________ basis of...

Question 7

For proprietary funds, the _______________________ basis of accounting is used, and the _________________________________ measurement focus is used.

Accepted Answer

The answer of For proprietary funds, the _______________________ basis of...

Question 8

For fiduciary funds, the ________________________________ basis of accounting is used, and the __________________________________ measurement focus is used.

Accepted Answer

The answer of For fiduciary funds, the ________________________________ basis of...

Question 9

Under the modified accrual basis of accounting, governmental revenues are recognized when they are ________________________________________.

Accepted Answer

The answer of Under the modified accrual basis of accounting,...

Question 10

For "governmental" funds, an item is susceptible to accrual when it is both ____________________________________ and ____________________________________.

Accepted Answer

The answer of For "governmental" funds, an item is susceptible...

Question 11

Most governmental revenues arise from ____________________________ transactions.

Accepted Answer

The answer of Most governmental revenues arise from ____________________________ transactions....

Question 12

The four conceptual categories of governmental nonexchange transactions are ____________________________________, _______________________________________. ____________________________________, and ______________________________________.

Accepted Answer

The answer of The four conceptual categories of governmental nonexchange...

Question 13

For governmental funds, the operating statement has a revenues category, an expenditures category, and a(n) _______________________________________________ category.

Accepted Answer

The answer of For governmental funds, the operating statement has...

Question 14

The three categories of fund types are ________________________________________ funds, ___________________________ funds, and _________________________________ funds.

Accepted Answer

The answer of The three categories of fund types are...

Question 15

The five types of "governmental" funds are ___________________________ Funds, __________________________ Funds, _______________________________ Funds, ____________________________ Funds, and ________________________ Funds.

Accepted Answer

The answer of The five types of "governmental" funds are...

Question 16

The two types of proprietary funds are ________________________________________ Funds and ________________________________________ Funds.

Accepted Answer

The answer of The two types of proprietary funds are...

Question 17

The two types of fiduciary funds are ________________________________________ Funds and ________________________________________ Funds.

Accepted Answer

The answer of The two types of fiduciary funds are...

Question 18

The three types of trust funds that exist in governmental accounting are __________________________ funds, __________________________ funds, and __________________________ funds.

Accepted Answer

The answer of The three types of trust funds that...

Question 19

Interfund activities can be broadly categorized as being either _________________________ or _________________________ in nature.

Accepted Answer

The answer of Interfund activities can be broadly categorized as...

Question 20

The two subcategories of interfund activities that are reciprocal in nature are interfund _______________________________________ and interfund _________________________________________.

Accepted Answer

The answer of The two subcategories of interfund activities that...

Quiz 24: Governmental Accounting: Basic Principles and the General Fund

The organization that currently establishes governmental accounting standards is the ________________________________________.

The predecessor organization to the GASB was the ____________________________.

The organization that publishes GAAFR is the _________________________________.

For "governmental" funds, the measurement focus (what to measure) is on _________________________________________ at the fund-based reporting level.

In the broad sense, the use of financial resources of a fund is called a(n) ________________________.

For governmental funds, the _______________________________________________ basis of accounting is to be used at the fund-based reporting level.

For proprietary funds, the _ basis of accounting is used, and the ___________ measurement focus is used.

For fiduciary funds, the basis of accounting is used, and the __ measurement focus is used.

Under the modified accrual basis of accounting, governmental revenues are recognized when they are ________________________________________.

For "governmental" funds, an item is susceptible to accrual when it is both and .

Most governmental revenues arise from ____________________________ transactions.

The four conceptual categories of governmental nonexchange transactions are ________________, _. , and ____________________.

For governmental funds, the operating statement has a revenues category, an expenditures category, and a(n) _______________________________________________ category.

The three categories of fund types are __________________________ funds, _ funds, and _____________________ funds.

The five types of "governmental" funds are ___________ Funds, Funds, _ Funds, Funds, and ________ Funds.

The two types of proprietary funds are Funds and Funds.

The two types of fiduciary funds are Funds and Funds.

The three types of trust funds that exist in governmental accounting are funds, funds, and __ funds.

Interfund activities can be broadly categorized as being either _ or _ in nature.

The two subcategories of interfund activities that are reciprocal in nature are interfund _ and interfund ___.