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21.Which statement is false regarding the government-wide Statement of Net Assets? A. the purpose of the Statement of Net Assets is to report the economic resources of the government as a whole. B. assets are reported excluding capital assets. C. capital assets are reported net of depreciation. D. investments are reported at fair.
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11.Historically, what was the pattern of reporting of not-for-profit organizations? (1) Patterned after for-profit accounting (2) Emphasis on separate fund types (3) Disregard for the entire entity A. 1 only. B. 2 only. C. 1 and 2 only. D. 1, 2 and 3. E. 2 and 3 only. 12.Which of the following statements is required for voluntary health.
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Multiple Choice Questions 1.For government-wide financial statements, what account is credited when a piece of equipment is leased on a capital lease? A. Equipment-Capital Lease B. Encumbrances-Long Term C. Encumbrances-Lease Obligations D. Capital Lease Obligation E. The lease is not recorded. 2.For fund financial statements, what account is credited when a piece of equipment is leased.
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78.The City of Kamen transferred $27,000 into a Pension Trust Fund. Of this amount, $19,000 was contributed by the city with the remainder coming from the employees. Required: For fund financial statements, prepare the journal entry for this transaction including the fund type in which the entry would have been recorded. .
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Multiple Choice Questions 1.Reciprocal transfers where both parties give and receive something of value are A. contributedservices. B. unconditional promises to give. C. endowment transactions. D. exchange transactions. E. required contributions. 2.Which of the following types of health care organizations follow FASB Accounting Standards Codification for GAAP? A. Option A B. Option B C. Option C D. Option D E. Option.
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59.The board of commissioners of the city of Jarmaine adopted a General Fund budget for the year ending June 30, 2013, which indicated revenues of $1,300,000, bond proceeds of $520,000, appropriations of $1,170,000, and operating transfers out of $390,000. Required: If this budget was formally integrated into the accounting records used to.
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