Acc 410 week 7 quiz

Swamped with your writing assignments? We'll take the academic weight off your shoulders. We complete all our papers from scratch. You can get a plagiarism report upon request just to confirm.


Order a Similar Paper Order a Different Paper

·         Question 1

3 out of 3 points

   
 

“Cash flows from investing activities” include which of the following as cash inflows

     

 

 

 

 

     

·         Question 2

3 out of 3 points

   
 

In which of the following circumstances must an enterprise fund be used to account for the activity?

     

 

 

 

 

     

·         Question 3

3 out of 3 points

   
 

Which of the following is the best rationale/justification for reporting the business-type activities of a government in a separate fund?

     

 

 

 

 

     

·         Question 4

3 out of 3 points

   
 

“Cash flows from investing activities” do NOT include which of the following as inflows

     

 

 

 

 

     

·         Question 5

3 out of 3 points

   
 

Which of the following is a valid reason for governments to engage in business-type activities?

     

 

 

 

 

     

·         Question 6

3 out of 3 points

   
 

“Cash flows from investing activities” include which of the following as outflows

     

 

 

 

 

     

·         Question 7

3 out of 3 points

   
 

The appropriate entry in the general fund to account for this transfer is a credit to cash for $500,000 and a debit for $500,000 to

     

 

 

 

 

     

·         Question 8

0 out of 3 points

   
 

Over the long run, internal service funds are intended to generate sufficient revenues to cover the

     

 

 

 

 

     

·         Question 9

3 out of 3 points

   
 

Whether gains on the sale of a government endowment’s investments should be considered additions to principal or expendable income for accounting purposes is:

     

 

 

 

 

     

·         Question 10

3 out of 3 points

   
 

At the beginning of the year, the permanent fund of Rose City had an investment portfolio with a historical cost of $300,000 and a fair value of $330,000.  There were no purchases or sales of securities during the year.  At the end of the year the portfolio had a fair value of $360,000.  At year-end, the city’s account for this increase in fair value in which of the following ways?

     

 

 

 

 

     

·         Question 11

3 out of 3 points

   
 

A wealthy citizen provided in her will for a gift of cash and other assets to Balsa city.  The will specified that the gift was to be kept intact and that the earnings from the gift were to be used to support public parks.  At the time of the donation, the gift had a book value in the hands of the donor of $300,000 and a fair value of $500,000.  When recording this gift the city would credit

     

 

 

 

 

     

·         Question 12

0 out of 3 points

   
 

Permanent funds are classified as

     

 

 

 

 

     

·         Question 13

3 out of 3 points

   
 

GASB standards of accounting for other postemployment benefits (OPEB) require that governments

     

 

 

 

 

     

·         Question 14

3 out of 3 points

   
 

Liabilities reported in pension trust funds consist of

     

 

 

 

 

     

·         Question 15

3 out of 3 points

   
 

In previous years, Boze City had received a $400,000 gift of cash and investments.  The donor had specified that the earnings from the gift must be used to beautify city-owned parks and the principal must be re-invested.  During the current year, the earnings from this gift were $24,000.  The earnings from this gift should generally be considered revenue to which of the following funds?

     

 

 

 

 

     

 

 

Writerbay.net

We offer CUSTOM-WRITTEN, CONFIDENTIAL, ORIGINAL, and PRIVATE writing services. Kindly click on the ORDER NOW button to receive an A++ paper from our masters- and PhD writers.

Get a 10% discount on your order using the following coupon code SAVE10


Order a Similar Paper Order a Different Paper