The required report or statements in the general purpose federalfinancial report that addresses forward-looking informationregarding the possible effects of currently known demands, risks,and uncertainties, and trends in the federal entity is (are):
Question 7 options:
| Management discussion and analysis. |
| Basic statements. |
| Required supplemental information. |
| Related notes to the financial statements. |
The statement of activities required by SFAS No. 117 for healthcare entities subject to its jurisdiction must display changes forthe period in which of the following categories of net assets?
Question 10 options:
| Unrestricted |
| Temporarily restricted |
| Permanently restricted |
| All of the above |
Are public and private colleges and universities required toreport depreciation expense in their financial statements?
Question 25 options:
| Public: No; Private: No |
| Public: No; Private: Yes |
| Public: Yes; Private: Yes |
| Public: Yes; Private: No |
An audit of a government, conducted in accordance with generallyaccepted auditing standards (GAAS), includes
Question 24 options:
| Tests for compliance with laws and regulations |
| A determination of efficiency and effectiveness |
| An examination of financial statements and underlying recordsfor conformance with generally accepted accounting principles(GAAP) |
| Both b and c |
All of the following are examples of acts or policies that areuniform across the United Stated for not-for-profit organizationsexcept:
Question 14 options:
| Volunteer Protection Act of 1997. |
| Model Charitable Solicitation Act. |
| Uniform Prudent Management of Investment Funds Act of 2006. |
| Uniform Executive Compensation Act. |
