Dec 17 LTE Review Final Sample Questions Draw Layout A. A Home I View Insert U Georgia 12 B 11. Which of the following does CAFR stand for? a. Comprehensive Annual Financial Report b. Complementary Annual Financial Reclification C. Comprehensive Actuary Financial Report d. Complementary Actual Financial Report 12. The financial reporting for private not-for-profit entities primarily focuses on a. Basic information for the organization as a whole. b. Standardization of fund information reported. c. Inherent differences of various not-for-profit entities that impact reporting presentations. d. Distinctions between current fund and noncurrent fund presentations 13. Which of the following is a criterion for determining whether an operating segment is separately reportable? a. An operating segment's assets are 10 percent or more of combined segment assets. b. An operating segment's assets are 10 percent or more of consolidated assets. C. An operating segment's assets are 10 percent or more of combined segment liabilities d. An operating segment's assets are 10 percent or more of consolidated liabilities. 14. Consolidation Entry A eliminates the subsidiaries Net Asset accounts on the consolidation worksheet. a. True b. False 15. According to U.S. GAAP, when the local currency is the functional currency, which method is usually required for translating a foreign subsidiary's financial statements into the parent's reporting currency? a. The temporal method. b. The current rate method. c. The currentoncurrent method. d. The monetaryonmonetary method