Flag question: Question 1Question 11 pts

GASB requires a budget to actual comparison in the financial statements for the general fund and the ________.

Group of answer choices

enterprise funds

special revenue funds

private-purpose trust funds

all of the above

Flag question: Question 2Question 21 pts

The Town of St. Olaf expects to collect $15,000 in employee wage withholding tax from the state government within 30 days of the end of fiscal year 2018. What entry, if any, would St. Olaf's accounting department make at the end of 2018?

Group of answer choices

Debit taxes receivable $15,000; credit deferred inflows $15,000

Debit taxes receivable - deferred $15,000; credit revenues control $15,000

Debit due from state government $15,000; credit revenues control $15,000

Debit due from state government $15,000; credit deferred inflows $15,000

Flag question: Question 3Question 31 pts

A private donation is a ________ transaction.

Group of answer choices

Derived tax revenue

Government-mandated nonexchange revenue

Imposed tax revenue

Voluntary nonexchange revenue

Flag question: Question 4Question 41 pts

Which of the following was not mentioned in the module lecture content as a challenge in applying artificial intelligence in government organizations?

Group of answer choices

Budget capacity

Lack of manual processes to automate

Skill-specific trained professionals

None of the above

Both a and c

Flag question: Question 5Question 51 pts

Under the modified accrual basis, revenue from a property tax levy would be recognized when ________.

Group of answer choices

Available to finance current period expenditures

Objectively measurable

Collected during the current period

Both a and b

Both b and c

Flag question: Question 6Question 61 pts

An appropriation is expended and booked as an encumbrance when ________.

Group of answer choices

goods and services are received, but only if resources are available in the fund

invoices are paid

a purchase order is issued

goods and services are received, whether or not resources are available in the fund

Flag question: Question 7Question 71 pts

Which of the following is an example of a derived tax revenue nonexchange transaction?

Group of answer choices

Property tax revenue

Income tax revenue

Special property assessment

None of the above

Flag question: Question 8Question 81 pts

Currently due taxes receivable is an example of a ________ fund balance.

Group of answer choices

nonspendable

spendable

restricted

committed

Flag question: Question 9Question 91 pts

The journal entry to re-establish an encumbrance for purchase orders outstanding at the beginning of the year would include ________.

Group of answer choices

debit to encumbrances control and credit to revenues control

debit to budgetary fund balance and credit to encumbrances control

debit to appropriations control and credit to budgetary fund balance

debit to encumbrances control and credit to budgetary fund balance

Flag question: Question 10Question 101 pts

In the required reading, one of the articles by Ted Needleman suggests two areas where future development is expected to occur when it comes to cloud accountingmachine learning/artificial intelligence and ________.

Group of answer choices

speech-based technology

natural language processing

big data

none of the above