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need a test done should be quick 10 questions 1 hoursfiduciary funds are to use the: (points : 1)
economic resources measurement focus and accrual basis of accounting
current financial resources measurement focus and accrual basis of accounting
economic resources measurement focus and modified accrual basis of accounting
none of the above, the fiduciary funds have no revenues

question 2.2. all of the following are commonly used major revenue source classes except for (points : 1)
intergovernmental revenues
fines and forfeits
transfers from other funds

question 3.3. level "a" gaap for the university of virginia, a public institution, would be established by the: (points : 1)
financial accounting standards board
governmental accounting standards board
american institute of certified public accountants
national association of college and university business officers

question 4.4. the governmental accounting standards board has been given authority to establish accounting and financial reporting standards for: (points : 1)
all governmental units and agencies
federal, state and local governments
all governmental units and all not-for-profit organizations
state and local governmental entities and governmentally-owned utilities, authorities, hospitals and colleges and universities

question 5.5. which of the following items would typically not need an encumbrance? (points : 1)
new building
regular salaries
new computer
office equipment

question 6.6. which of the following is true regarding the government-wide statement of activities? (points : 1)
the government-wide statement of activities may reflect expenses either by function (general government, public safety, etc.) or by object or natural classification (salaries, supplies, etc.)
the government-wide statement of activities is prepared using the modified accrual basis of accounting for governmental activities and using the accrual basis of accounting for business-type activities
the government-wide statement of activities reflects all taxes as general revenues
indirect program expenses may not be allocated to the other functional areas

question 7.7. which of the following is not true regarding major fund reporting for governmental funds? (points : 1)
the general fund is always a major fund
each fund that is considered major must be reported in a separate column in the governmental funds financial statements
a government may designate any fund as major if it feels that reporting that fund in the basic financial statements would be useful
none of the above, all are true

question 8.8. what is the first step a government takes in acquiring goods or services through the general fund? (points : 1)
requisition order

question 9.9. which of the following characteristics would not define an organization as governmental? (points : 1)
the power to enact and enforce a tax levy
the potential for unilateral dissolution by a government with the net assets reverting to a government
the receipt of grant money from a state or local government for the purpose of providing services to the public
all of the above

question 10.10. which of the following is not considered required supplementary information (rsi)? (points : 1)
management's discussion and analysis
budgetary comparison statement
notes to the financial statements
none of the above; all are considered rsi
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