Strayer ACC 410 Gov't, NonProfit Acc 410 Ch 1 Quiz

• Question 1
 As used by GASB, interperiod equity refers to which of the following?  Financial reporting should:
 
•  Question 2
 Which of the following is NOT an objective of financial reporting for not-for-profit entities as established by FASB?  Financial reporting should provide information that is useful to present and potential resource providers and other users in:
 
•  Question 3
 Given a specific set of data, the basis of accounting selected by or imposed on a governmental entity will least affect which of the following?
 
•  Question 4
 A primary characteristic that distinguishes governmental entities from business entities is
 
•  Question 5  
 Which of the following characteristics is NOT a characteristic that may distinguish a governmental or not-for-profit entity from a business entity?
 
•  Question 6
 Which of the following is NOT an objective of financial reporting by governmental entities as established by GASB?
 
•  Question 7
 Which of the following statements is NOT true?
 
•  Question 8
 Which of the following objectives is considered to be the cornerstone of financial reporting by a governmental entity?
 
•  Question 9
 Governments and not-for-profits employ a system of accounting known as
 
•  Question 10
 Which of the following is NOT a reason that users of government and not-for-profit external financial statements need to have information to enable them to assess the financial condition of a government?
 
•  Question 11
 The primary standard-setting body for accounting and financial reporting by a state-supported college or university is:
 
•  Question 12
 A regulatory agency would use the external financial statements of a local government for which of the following purposes?
 
•  Question 13  
 Which of the following is NOT a purpose of external financial reporting by governments?  External financial reports should allow users to
  
•  Question 14
 Which of the following is NOT generally considered a main user of government and not-for-profit entity external financial statements?

•  Question 15
 Which of the following rule-making authorities would establish accounting standards for all nongovernment not-for-profits?