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This Is Quiz 1

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  • May 31, 2011
  • 918 Words
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Question 1 (2 points)

Which of the following would not be considered a government or nonprofit organization? Question 1 options:
| A)| A software company that sells software exclusively to state and local governments | | B)| A public elementary school |
| C)| A church |
| D)| A private trust organized for charitable purposes | Save
Question 2 (2 points)

Each of the following would be defined as a governmental entity based on the definition of a government that was jointly developed by the GASB and FASB except Question 2 options:
| A)| A Historic Preservation District created by the governing board of the municipal government. | | B)| A Charter School incorporated in accordance with state law and accountable to the state oversight agency. | | C)| A hospital formerly owned by a local government entity that was sold to and is now owned by a private, for-profit health care management corporation. | | D)| A financing authority that is legally separate from the municipal government, but provides financing for the government's major capital projects. The governing board of the financing authority is appointed by the municipal government's board. | Save

Question 3 (2 points)

The Financial Accounting Foundation has oversight responsibilities over Question 3 options:
| A)| The Financial Accounting Standards Board (FASB). | | B)| The Governmental Accounting Standards Board (GASB). | | C)| The Government Accountability Office (GAO). |
| D)| Items A and B only |
Question 4 (2 points)

The governmental GAAP hierarchy was established by
Question 4 options:
| A)| The Governmental Accounting Standards Board (GASB). | | B)| The Financial Accounting Standards Board (FASB). | | C)| The American Institute of Certified Public Accountants (AICPA). | | D)| The Financial Accounting Foundation (FAF). |

Question 5 (2 points)

Which of the following is not...