Government Wide Financial Statements

Question 1

what is the revenue classification of fines and forfeitures?

Answer 1

Charges for Services

Question 2

Charges for Services and Taxes are what types of revenues?

Answer 2

Taxes = General Revenue

Charges for Services = Program Revenue

Question 3

statement of activities of the government-wide financial statements is designed primarily to provide information on?

Answer 3

Operational Accountability

Question 4

What is included in a Government Wide Financial Statements?

Answer 4

Statement of Net Position

Statement of Activities

Question 5

The assets and liabilities account balances for internal service fund that are not eliminated normally should be reported in the government-wide statement of net position as

Answer 5

Governmental Activity

Question 6

revenues restricted to a particular function are derived from parties outside the reporting government’s constituency, these revenues are classified as

Answer 6

Program Revenues

Question 7

what should be included in the introductory section of a local government’s comprehensive annual financial report?

Answer 7

Letter of Transmittal

Question 8

Where should Long term liabilities be reported in the Government Wide F/S?

Answer 8

Government Activities section of the government wide statement of net position