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True/False Questions
Answer: True
Learning Objective: 1
Topic: Overview of the CAFR
Feedback: The CAFR has three major sections; introductory which includes MD&A,
financial which includes basic financial statements, RSI other than MD&A, combining
and individual fund statements and narrative explanations, and the statistical section.
2. The three major sections of a CAFR are the Introductory, Financial, and Statistical
sections.
Answer: True
Learning Objective: 1
Topic: Overview of the CAFR
Feedback: The CAFR has three major sections; introductory, financial and statistical.
Answer: False
Learning Objective: 1
Topic: Overview of the CAFR
Feedback: The introductory and statistical sections of a CAFR are not audited.
Answer: True
Learning Objective: 1
Topic: Overview of the CAFR
Feedback: State and local governments are encouraged, but not required, to prepare a
CAFR.
5. Combining statements are required whenever a non-major column is used in one of the
fund financial statements.
Answer: True
Learning Objective: 1
1
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written
consent of McGraw-Hill Education.
Answer: True
Learning Objective: 1
Topic: Fund basis statements
Feedback: A complete CAFR presents combining statements to reflect its nonmajor
funds whenever a nonmajor column is used in one of the fund statements.
Answer: True
Learning Objective: 1
Topic: Fund basis statements
Feedback: In addition to the government-wide statement, governments are required to
prepare fund-level financial statements within the three categories of funds:
governmental, proprietary and fiduciary.
Answer: False
Learning Objective: 1
Topic: Fund basis statements
Feedback: In addition to the government-wide statement, governments are required to
prepare fund-level financial statements within the three categories of funds:
governmental, proprietary and fiduciary.
9. The General Fund is not always considered to be a major fund when preparing fund basis
financial statements.
Answer: False
Learning Objective: 1
Topic: Reporting by Major Funds
Feedback: In addition to the government-wide statement, governments are required to
prepare fund-level financial statements and are required to present separate columns
for each major fund. The general fund is considered a major fund for reporting
purposes.
2
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written
consent of McGraw-Hill Education.
Chapter 2 Overview of Financial Reporting for State and Local
Governments
10. With respect to fund basis financial statements, governmental funds are considered to be a
major fund when total assets, liabilities, revenues and expenditures combined are at least
10% of the total for the governmental funds category.
Answer: False
Learning Objective: 1
Topic: Reporting by Major Funds
Feedback: Governmental funds, other than the general fund, are considered to be a
major fund when both of the following conditions are met: 1) Total assets, liabilities,
revenues or expenditures of that individual government fund constitute 10% of the
total for the governmental funds category and 2) Total assets, liabilities, revenues or
expenditures of that individual government fund are 5% of the total of the
governmental and enterprise categories, combined.
11. With respect to fund basis financial statements, a government may only designate a fund
to be a major fund if it meets the size thresholds established by GASB.
Answer: False
Learning Objective: 1
Topic: Reporting by Major Funds
Feedback: A government may designate any fund as a major fund if reporting that
fund separately would be useful.
12. With respect to fund basis financial statements, a government may designate any fund to
be a major fund if reporting that fund separately would be useful.
Answer: True
Learning Objective:1
Topic: Reporting by Major Funds
Feedback: The general fund is always a major fund and a fund is considered to be a
major fund if certain criteria are met. In addition, governments may designate any
other fund to be a major fund if reporting that fund separately would be useful.
13. When preparing fund basis financial statements, any funds not reported separately are
aggregated and reported in a single column under the label nonmajor funds.
Answer: True
Learning Objective: 1
Topic: Reporting by Major Funds
Feedback: Any funds not reported separately are aggregated and reported in a single
column under the label nonmajor funds. A schedule showing the detail of nonmajor
3
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written
consent of McGraw-Hill Education.
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APÉNDICES
I
(DE LA «MONJA-ALFÉREZ», DE MONTALBÁN.)
II.
(DE «LA MONJA ALFÉREZ», DE CARLOS COELLO).
APÉNDICES
Proposición de la Alcaldía para trasladar los restos de Pizarro.
«Considerando: Que es de dignidad nacional dar honrosa
sepultura á los restos del conquistador del Perú, que hoy se
encuentran en la bóveda de la Iglesia Catedral,
«Propone: Que se autorice á la Alcaldía para que solicite del Ilmo.
y Rmo. Sr. Arzobispo y del Cabildo metropolitano la licencia
correspondiente para colocar los restos del Capitán general D.
Francisco Pizarro en una de las capillas de la Iglesia Catedral,
quedando autorizada igualmente la Alcaldía para hacer construir
una urna donde reposen estos restos, hasta que la nación pueda
construir un monumento para tal objeto.
«Lima, Abril 30 de 1891.—Juan Revoredo.»
II
Discurso del Alcalde de Lima al entregar la urna que debía
guardar los despojos mortales de Pizarro.
«Excelentísimo Señor:
«Señor Ilustrísimo:
«Señores:
«Conmemoramos en este momento el aniversario del
fallecimiento del ilustre Capitán general D. Francisco Pizarro,
acaecido hace hoy trescientos cincuenta años.
«Nos encontramos en presencia de sus restos, de cuya
autenticidad no podemos dudar desde que la Historia así nos lo
demuestra y desde que las generaciones que se han venido
sucediendo nos los han ido haciendo conocer de padres á hijos
hasta llegar á nosotros.
«Don Francisco Pizarro fué el conquistador del Perú, el fundador
de esta capital, el que en sus propios hombros cargó el primer
madero que sirvió para la fabricación del templo en que nos
encontramos, y, lo que es más, fué el que nos legó la Religión que
profesamos, dándonos hasta su última hora pruebas del respeto y
de la veneración que tenía por ella; pues recordaréis que besando la
Cruz del Calvario, que con su propia sangre y puño había formado
para elevar sus preces al Todopoderoso, exhaló su último aliento.
Estamos obligados á creer, señores, que el alma del que así murió
tiene que estar gozando de las delicias del Paraíso.
«Toca á nosotros honrar sus inapreciables restos, que continuarán
bajo la custodia del Muy Ilustre Cabildo metropolitano.»
III