F9 - Governmental Accounting

Question 1

The statement of activities of the government-wide financial statements is designed primarily to provide information to assess what type of accountability?

Answer 1

Operational accountability

Question 2

Which type of government financial statements focus the user on fiscal accountability?

Answer 2

Fund financial statements

Question 3

What would a government management’s discussion and analysis likely not include?

Answer 3

A reconciliation of fund financial statements and government-wide financial statements

Question 4

Government-wide financial statements would include all government-wide activities associated with operational accountability for all activities except:

Answer 4

Fiduciary funds (PAPI)

Question 5

How often should the assessed condition of the infrastructure and the estimated annual amount to maintain and preserve the condition level established be updated?

Answer 5

Updated once every three years

Question 6

Under governmental cash flows, in which category would payments in lieu of taxes be classified?

Answer 6

Operating