Please answer True or False for the following questions 1. Proprietary funds use the accrual basis...

Please answer True or False for the following questions

1. Proprietary funds use the accrual basis of accounting and the economic resources measurement focus.

2. The balance-sheet like statement in Question # 3 above is actually named the Balance Sheet.

3. Of the three major types of fund statements, it is the Fiduciary Fund statements that have a Statement of Cash Flow.

4. The Internal Service Fund is found on the Proprietary Fund statements and in either the the Government Activities (GA) or Business Activities column of the Government Wide (GW) statements.

5. “Plan fiduciary net position as a percentage of total pension liability” should ideally be no less than 60% (60% is generally deemed to be sufficient funding).

Expert Solution

1. Proprietary funds use the accrual basis of accounting and the economic resources measurement focus.	TRUE	Proprietary funds recognize revenues when they are earned and recognize expenses when the liability is incurred.
2. The balance-sheet like statement in Question # 3 above is actually named the Balance Sheet.	Ref. is missing
3. Of the three major types of fund statements, it is the Fiduciary Fund statements that have a Statement of Cash Flow.	FALSE	Fiduciary Fund prepares two statements:- statement of Fiduciary Net Asset and statement of changes in Fiduciary Net Assets
4. The Internal Service Fund is found on the Proprietary Fund statements and in either the the Government Activities (GA) or Business Activities column of the Government Wide (GW) statements.	FALSE	Internal service fund are classified as proprietary fund .The Internal Service Fund is found on the Government Activities (GA) column of the Government Wide (GW) statements.
5. “Plan fiduciary net position as a percentage of total pension liability” should ideally be no less than 60% (60% is generally deemed to be sufficient funding).	FALSE	The funded ratio is a widely quoted metric for assessing the soundness of pension funding. When considering the funded ratio, context is important.

ekkarill92 answered 2 years ago

The main argument for proprietary funds being reported on the accrual basis is: A. Just...

The main argument for proprietary funds being reported on the accrual basis is: A. Just like a for-profit business a proprietary fund has to properly match revenues with expenses. B. Financial reporting should provide information that current revenues were sufficient to cover expenses. C. Assisting users of the financial statements that all accomplishments are being met. D. All of the above.

Answer the following questions True or False. Write “True” or “False” in the blank. 1._________ The...

Answer the following questions True or False. Write “True” or “False” in the blank. 1._________ The rate constant changes if the concentrations of the reactant change. 2._________ If the concentration of a reactant changes, the rate of the reaction always changes. 3._________ The coefficients of the overall reaction tell us the order for each reactant. 4._________ The half-life for a first order reaction does not depend on the initial concentration. 5._________ If the rate of a reaction over a long...

True or False Questions: Please answer true or false. 1. Even when care is free at...

True or False Questions: Please answer true or false. 1. Even when care is free at the point of service, we would expect low and high-income individuals with the same level of need to demand different quantities of health care. 2. We would expect the demand curve for physician visits to be more price elastic than the demand curve for inpatient hospital care. 3. A decision by the provincial governments to include counseling by psychologists within the public insurance plan...

Please answer these TRUE or FALSE questions. 1. True or False. The Born-Oppenheimer approximation accounts for...

Please answer these TRUE or FALSE questions. 1. True or False. The Born-Oppenheimer approximation accounts for scattering. 2. True or False. Tunneling is one way to approximate the solution to the Free Particle. 3. True or False. The coordinate version (x,y,z) of the Free Particle wavefunction can be normalized by including time. 4. The spin quantum number is used when combining the Hydrogen Atom and Free Particle models together.

Please answer the following questions (true/false) 1. The form and substance of a company's response to...

Please answer the following questions (true/false) 1. The form and substance of a company's response to international market opportunities depend greatly on management's assumptions or beliefs about the nature of the world. 2. A patent is a distinctive motto that a manufacturer affixes to a particular product or package to distinguish it from goods produced by other manufacturers 3. The ethnocentric company is decentralized in its marketing management whereas the polycentric company is centralized. 4. Gray color is associated with...

Health care organizations and colleges use modified accrual basis of accounting. (true or false). A balance...

Health care organizations and colleges use modified accrual basis of accounting. (true or false). A balance in the Reserved for Encumbrances in excess of a balance of Encumbrances indicates: a) An excess of vouchers payable over encumbrances b) An excess of purchase orders over invoices received c) An excess of appropriations over encumbrances d) A recording error Which of the following financial statements should be prepared for proprietary funds? a). Statement of revenues, expenditures, and changes in fund balance b)....

Answer true or false to the following questions please explain your answers and answer all please ...

Answer true or false to the following questions please explain your answers and answer all please 1.The cytoplasmatic side of the integral membrane proteins is often glycosylated. 2. Cholesterol is more enriched at the outer leaflet of the plasma membrana 3.Inner leaflet of the plasma membrane is enriched with glycolipids. 4.Membrane proteins that pomp ions in and out of the cell have specific Km values. 5. A symport would function as an antiport if its orientation in the membrane were...

Please answer the following questions(true/false) 1. When Barack Obama was sworn in as the president of...

Please answer the following questions(true/false) 1. When Barack Obama was sworn in as the president of the United States, he inherited a situation that had confounded his predecessors for half a century. America's complex relationship with Cuba illustrates the impact the political, legal, and regulatory environments can have on international trade and global marketing activities 2. Bribery payments are considered a deductible business expense in many European countries 3. Globalization is presenting significant marketing opportunities for professional sports organizations such...

Please answer the following true/false questions: (1 pt each) The sample mean is the median of...

Please answer the following true/false questions: (1 pt each) The sample mean is the median of the data set. (TRUE/FALSE) The most important use of a control chart is to improve the process by detecting assignable causes. (TRUE/FALSE) The eventual goal of statistical process control is the elimination of variability in the process. (TRUE/FALSE) Cause-and-effect diagram is one of the seven major tools called as magnificent seven. (TRUE/FALSE) The center line of a control chart represents the mean value of...

Question5. Please answer the following questions as either "TRUE" or "FALSE" (Write out either “True” or...

Question5. Please answer the following questions as either "TRUE" or "FALSE" (Write out either “True” or “False”) A. A normal distribution is characterized by its mean and its degrees of freedom. ______________ B. A paired t-test is considered a nonparametric test. ______________ C. A 93% confidence interval for µ is that numerical interval constructed to contain 93% of the values of µ. ____________ D. A 94% confidence interval for a mean is narrower than a 93% confidence interval. ______________ E....

Question