State and Local Governments

Practice Questions

CPA Financial Accounting and Reporting (FAR) › State and Local Governments

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1

Which basis of accounting is required for a city's government wide financial statements?

2

ABC City uses an internal service fund for its central motor pool. The assets and liabilities account balances for this fund that are not eliminated normally should be reported in the government wide statement of net position as:

3

Which of the following would be reported as program revenues on a local government's government wide statement of activities?

4

Taxes levied on citizens for infrastructure improvements should be reported in:

5

The city of Carlton produces a comprehensive annual financial report which includes general purpose financial statements. Which of the following statements is true?

6

Taxes levied on citizens for infrastructure improvements should be reported in:

7

Which basis of accounting is required for a city's government wide financial statements?

8

Which of the following would be reported as program revenues on a local government's government wide statement of activities?

9

The city of Carlton produces a comprehensive annual financial report which includes general purpose financial statements. Which of the following statements is true?

10

ABC City uses an internal service fund for its central motor pool. The assets and liabilities account balances for this fund that are not eliminated normally should be reported in the government wide statement of net position as:

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