Which of the following is not considered to be part of the basic financial statements?
Management's discussion and analysis.
Governmental funds financial statements typically include the following EXCEPT:
A statement of cash flows
Which of the following statements concerning reporting detail of the government wide financial statements is false?
business-type activities must be reported by enterprise fund.
Which of the following types of revenues would not be considered a program revenue?
Occupancy tax levied by reporting government and restricted for use in tourism development activities
Which of the following are typically included in functional expenses for governmental activities?
Depreciation and departmental supplies.
Which of the following statements is true concerning major fund reporting?
Major fund reporting is required for governmental funds and enterprise funds.
The balance sheet for governmental funds would potentially include all of the following items EXCEPT:
Bonds payable due in five years.
The statement of revenues, expenditures, and changes in fund balance does not report...
Depreciation.
The fund(s) for which budgetary comparison would potentially be included in the basic financial statements are...
General fund, major special revenue funds.
Which of the following is an accurate description of major fund reporting concepts?
Fiduciary funds must be reported by fund type.
Both governmental funds and government activities include which of the following on their respective operating statements...
Depreciation expense.
The government-wide statement of net assets would not include...
Bonds payable
The government-wide statement of activities may report all of the following except...
charges for services.
Which of the following revenues would typically not be classified as a general revenue on the statement of activities?
parking fines
The governing board of the city of Chestnut Springs has decided to dedicate 25% of the fees generated by the city's recycling program to drug enforcement activities. This revenue would be reported on the statement of activities as...
operating grants and contributions in a public safety function.
GAAP require fiduciary activities to be reported in the fund financial statements by...
In the fund financial statements by major fund and government-wide financial statements as governmental activities.
Which of the following topics would commonly be included in the MD&A?
Goals and objectives for the government's various functions for the next fiscal year.
GAAP require primary government total columns to be reported on which of the following financial statements?
Statement of revenues, expenditures, and changes in fund balances for governmental funds if multiple major funds (and potentially non-major funds) reported.