Keller Graduate School of Management ACCT 567 Week 6 Quiz

1. Question : (TCO F) Any activities that produce goods or services to be provided to other departments or other governmental units would be reported in which fund? Student Answer: Enterprise Fund Internal Service Fund Advance Fund Agency Fund 2. Question : (TCO F) Which of the following is a true statement regarding the cash flow statements of a proprietary fund? Student Answer: Reconciliation is required between the Statement of Revenues, Expenses, and Changes in Fund Net Assets and the cash flows from operating activities section of the Cash Flow Statement. The gain from the sale of equipment would be reported in the investing section. Interest receipts are reported as increases in cash flows from either capital and related financing or noncapital financial activities, whichever is appropriate. None of the above 3. Question : (TCO G) A fund that is the result of an agreement between a contributor and a government that the principal and/or income of trust assets that is for the benefit of individuals, organizations, or other governments is a(n) Student Answer: Private-Purpose Trust Fund. Investment Trust Fund. Pension Trust Fund. Agency Fund. 4. Question : (TCO H) Public sector audits differ from those of commercial businesses in which of the following instances? Student Answer: The auditor reports to outside agencies, as well as management of the organization. The auditor does not utilize statistical sampling. The auditor is not required to be independent. All of the above 5. Question : (TCO J) Under GASB Standards, if a government only has six government funds and two enterprise funds, what is the required number of basic financial statements that it would need to prepare? Student Answer: Five Six Nine Seven 6. Question : (TCO H) Which of the following would be considered “contribution revenue or support” of a not-for-profit organization? Student Answer: Monies received from a fund-raising campaign. Investment earnings. Money received from rental of surplus office space. Gain on disposal of capital assets. 7. Question : (TCO H) Describe the different types of governmental audits and attestation engagements. 8. Question : (TCO F) Internal Service Fund, Statement of Cash Flows. Prepare a statement of cash flows for the internal service fund for the city of Pearman from the following information: Cash on hand at the beginning of the year $160Interest on investments 201Wages and salaries paid (2,950)Purchases of supplies (1,210)Collections (for services) from other funds 5,790Interest paid on long-term debt (185)Repayment of loans from other funds (680)Purchase of capital assets (870)Proceeds of revenue bonds 870Purchase of investments (430)Proceeds from sale of capital assets 28Proceeds from sale of investments 49Loans from other funds 520

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more