+
ACC 410 CHAPTER 11 QUIZ

ACC 410 CHAPTER 11 QUIZ

Rating:
Rating
(0)
Author: Christine Farr
Description:

http://theperfecthomework.com/acc-410-chapter-11-quiz/

The financial section of a CAFR does not include:

 With regard to MD&A, which of the following is true?

The City created a legally separate Port Authority.  Members of the board of the Port Authority are elected in general city elections.  The Port Authority receives no tax dollars; it is supported entirely by user fees.  The Port Authority determines its budget, sets user fees, and has the power to issue bonded debt.  In what manner would the Port Authority be included in the City’s Basic Financial Statements?

A Comprehensive Annual Financial Report for the City of Highland Hills need not include which of the following sections?

The County created a legally separate County Hospital authority.   Members of the board of the County Hospital are elected in county-wide elections.  The hospital receives no financial support from the County, except that the County pays the hospital bills for county indigents.  All revenues of the Hospital are user fees.  The County Hospital would be considered a

The City created a legally separate Port Authority.  Members of the board of the Port Authority are elected in general city elections.  The Port Authority receives no tax dollars; it is supported entirely by user fees.  The Port Authority determines its budget, sets user fees, and has the power to issue bonded debt.  The Authority would be considered a

The City created a legally separate Housing Authority to provide low-income housing to residents of the City.  The City issues debt for the Housing Authority in the name of the City, but the Housing Authority is responsible for repayment of the debt.  The Housing Authority is governed by a board composed of all 5 members of the City Council.  Actions can be taken by Authority upon receiving an affirmative vote by a simple majority of the board.  In what manner would the Authority be included in the City’s Basic Financial Statements?

The Marsh River School District, a legally separate school district that has a separately elected governing body, cannot enter into any debt agreements without the approval of the County Commission.   Marsh River School District would be considered a:

Which of the following is NOT a necessary characteristic of a component unit?

Fund financial statements for Fiduciary Funds include which of the following?

Government-wide financial statements include which of the following?

The County Commission appoints a voting majority of the members of the Board of a particular organization.  The County Commission cannot impose its will upon the organization.  There is no potential for the organization to provide any financial benefit to the County nor is there is any potential for the organization to impose any financial burden on the county.  The organization is an example of a:

The State has a legally separate State Building Authority which has a board appointed by the Governor.  The Authority issues debt in its own name, holds title to buildings in its own name, and leases its building exclusively to the State.  The authority would be considered a

The City created a legally separate entity to operate a County Hospital.  The City Council appoints a voting majority of the board of the Hospital.  The City cannot impose its will on the Hospital and there is no potential for a financial benefit or financial burden to the City.  In what manner would the Hospital be included in the City’s Basic Financial Statements?

Which of the following statements is not a required part of the General Basic Financial Statements of the City of Highland Hills?


(more)
See More
Try a College Course Free

Sophia’s self-paced online courses are a great way to save time and money as you earn credits eligible for transfer to over 2,000 colleges and universities.*

Begin Free Trial
No credit card required

25 Sophia partners guarantee credit transfer.

221 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 20 of Sophia’s online courses. More than 2,000 colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.

Tutorial