Homework answers / question archive / Question 1  A budgeting method that derives the subsequent year's budget from the current year's budget is called:    Question 2  Which of the following best describes the relationship between generally accepted auditing standards (GAAS) and generally accepted government auditing standards (GAGAS)?    Question 3   Population demographics have an impact on financial factors such as revenue per capita

Question 1  A budgeting method that derives the subsequent year's budget from the current year's budget is called:    Question 2  Which of the following best describes the relationship between generally accepted auditing standards (GAAS) and generally accepted government auditing standards (GAGAS)?    Question 3   Population demographics have an impact on financial factors such as revenue per capita

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Question 1 

A budgeting method that derives the subsequent year's budget from the current year's budget is called:

  

Question 2 

Which of the following best describes the relationship between generally accepted auditing standards (GAAS) and generally accepted government auditing standards (GAGAS)?

  

Question 3  

Population demographics have an impact on financial factors such as revenue per capita.

  

Question 4  

When conducting a single audit:

  

Question 5  

Which of the following statements about credit analysts' models is true?

  

Question 6  

The United States Office of Management and Budget (OMB) publishes uniform guidance, which provides streamlined guidelines for grant accounting and reporting.

  

Question 7  

Under generally accepted government auditing standards, safeguards are controls designed to reduce or eliminate threats to independence.

  

Question 8  

Popular budgeting approaches employed by governments include incremental budgeting, performance budgeting, program budgeting, planning-programming-budgeting systems, and zero-based budgeting.

  

Question 9  

The schedule of legally required events in the budgeting process is generally referred to as the:

  

Question 10  

Electronic Municipal Market Access (EMMA) is an electronic database of government financial reports provided by the Securities and Exchange Commission.

  

Question 11  

Which of the following statements regarding government budgets is not true?

The budget's role is limited to inclusion in internal financial reports and budgetary compliance monitoring for those funds that have a legally approved budget.

  

Question 12  

All of the following are appropriate benchmarks for a state or local government to use as a basis for comparing performance except:

Federal agencies' financial information for a comparable time period.

  

Question 13  

Under the existing GAAP hierarchy for state and local government financial reporting, the GASB Implementation guides are:

  

Question 14  

Which of the following is the highest in the hierarchy of generally accepted accounting principles for federal government entities?

  

Question 15  

In governments, the budget has always played a role in external financial reports through the required budget-to-actual comparison schedules or statements for those funds that have a legally approved budget.

  

Question 16  

Efficiency measures, as the term is used in the service efforts and accomplishments (SEA) literature, can be described as:

Question 17

"Benchmarking is a simple method for comparing one government to another." Do you agree or disagree with this statement? Explain.

 

Question 18

How do the objectives of evaluating financial condition differ between internal managers and credit analysts? How are their objectives similar?