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EX 1-1
2. If businesses are “governed by the marketplace,” governments
are governed by
4. In governments, in contrast to businesses,
6. The number of governmental units in the United States is
approximately
8. Interperiod equity refers to a condition whereby
10. Which of the following is not one of the FASB's financial
reporting objectives?
EX. 1–3 Internet-based exercise
1.
Visit the GASB website (www.gasb.org)
a)
What is the GASB?
b) What is the mission of GASB?
Based on GASB's White Paper, Why Governmental Accounting and
Financial Reporting Is and Should Be Different, describe the key
environmental differences between governments and for-profit
business enterprises
2.
Visit the GFOA website (www.gfoa.org)
a)
What is the GFOA, and what role does it play?
EX. 2-2
1. Oak Township issued the following bonds during the year:
The amount of debt to be reported in the general fund is
3. Assuming that Bravo County receives all of its revenues from
unassigned property taxes, it is most likely to account for the
activities of its police department in its
5. Grove City received the following resources during the year: