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(Multiple Choice)1. Which funds are used by federal agencies to account for receipts of resources from specific sources, earmarked by law for special purposes?a. Special Revenue Fundsb. Trust Fundsc. Revolving Fundsd. Deposit Funds2. Who sets federal accounting standards?a. Congressb. Financial Accounting Standards Board (FASB)c. Federal Accounting Standards Advisory Board (FASAB)d. Governmental Accounting Standards Board (GASB)3. What does an unliquidated obligation represent?a. Resources that cannot be spent for any purposeb. Resources that have already been disbursedc. Resources that must be returned to the Treasuryd. Resources earmarked for a specific purpose4. Who makes apportionments of appropriations?a. Congressb. Office of Management and Budget (OMB)c. The agencyd. The department of which the agency is a part5. What is the function of commitments?a. To legally encumber an allotmentb. To formally disclose purchase requests before actual orders are placedc. To represent the authority to spend money for a particular projectd. To represent legally enforceable promises to specific vendors6. What account is used to show that an agency has requested payment by the Treasury to vendors?a. Fund balance with Treasuryb. Accounts payablec. Disbursements in transitd. Processed invoices7. To prepare the “Status of Budgetary Resources†section of the Statement of Budgetary Resources, you would use the balances in which of the following accounts?a. Expended authority, undelivered orders, and commitmentsb. Cumulative results of operations, undelivered orders, and disbursements in transitc. Fund balance with Treasury, expended authority, and undelivered ordersd. Fund balance with Treasury, undelivered orders, and commitments
How much, if any, will Fly be able to itemize as a charitable deduction in 2012 and 2013? Be sure to explain your reasoning with the information from the relevant Internal Revenue Code sections.
Eve's Apples opened business on January 1, 2011, and paid for two insurance policies effective that date. The liability policy was $36,000 for eighteen months, and the crop damage policy was $12,000 for a two-year term. What was the balance in Eve..
how can personal net worth can effect not only personal finances but also finances of the business for small business
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when a company applies the partial equity method in accounting for its investment in a subsidiary and initial value, book values, and fair values of net assets acquired are all equal, what consolidation worksheet entry would be made?
Requirement 1 ($ in millions) 2011 2012 2013 Contract price $340 340 340 Actual costs to date $70 150 200 Estimated costs to complete $150 90 0 Total estimated costs $220 240 200 Estimated gross profit (actual in 2013) $ 120 100 140
on february 1 2008 pat weaver inc. pwi issued 10 1000000 bonds for 1116000. pwi retired all of these bonds on january
Corporate Portfolio Management Assignments
What would be a typical starting salary for an accountant. How can you determine the salary for a position you are interested in
3 page paper on analysing a company and the company would be Chipotle Mexican Grill.
chris like to save 30000 to send his son to college in 18 years. if he uses an account that averages a 9 r about how
At the end of the year, overhead applied was $35,000,000. Actual overhead was $34,200,000. Closing over/under applied overhead into cost of goods sold would cause net income to increase/decrease by?
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