Question 1

The term financial position is closely related to the term liquidity.

Accepted Answer

A) True 
 B)False

Question 2

A tax watchdog group is an example of an intermediary that represents citizen interests.

Accepted Answer

A) True 
 B)False

Question 3

Electronic Municipal Market Access (EMMA)is a source of all state and local government comprehensive annual financial reports (CAFRs).

Accepted Answer

A) True 
 B)False

Question 4

Discuss how despite significant improvements in the quality of government financial reporting over the years there are still serious,high profile public sector financial crises.How does the quality of financial reporting affect the ability to evaluate financial condition?

Accepted Answer

Government financial reporting has impro

Question 5

Political culture,such as attitudes towards taxes,is an example in the ICMA's Financial Trend Monitoring Systems of:

Accepted Answer

A)  Environmental factors. 
B)  Organizational factors. 
C)  Financial factors. 
D)  Management practices and legislative policies. 
A)  Environmental factors. 
B)  Organizational factors. 
C)  Financial factors. 
D)  Management practices and legislative policies.

Question 6

Describe how financial performance is related to the operating performance of a government entity.

Accepted Answer

Good financial performance,measured by f

Question 7

A large intergovernmental revenues ratio can be viewed as a positive sign concerning a government's financial condition.

Accepted Answer

A) True 
 B)False

Question 8

Describe some ratios that can be calculated using the basic financial statements that will help a decision maker assess the financial position of the government.

Accepted Answer

Five ratios are described in Illustratio

Question 9

Identify the following factors that affect financial condition as environmental factors (E)or financial factors (F).

Accepted Answer

1.E,2.E,3.

Question 10

Internal managers and credit analysts evaluate financial condition of a government in the same way.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following ratios would be considered favorable if it was low?

Accepted Answer

A)  Total revenues to population. 
B)  Debt service to total revenues. 
C)  Capital outlay from operating funds to operating expenditures. 
D)  Cash and short-term investments to current liabilities. 
A)  Total revenues to population. 
B)  Debt service to total revenues. 
C)  Capital outlay from operating funds to operating expenditures. 
D)  Cash and short-term investments to current liabilities.

Question 12

The term that is closely related to the concept of liquidity is

Accepted Answer

A)  Financial condition. 
B)  Interperiod equity. 
C)  Financial position. 
D)  Economic condition. 
A)  Financial condition. 
B)  Interperiod equity. 
C)  Financial position. 
D)  Economic condition.

Question 13

How do credit analysts assist decision makers in evaluating the credit worthiness of a state or local government?

Accepted Answer

Credit analysts,such as those with Moody

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Failure to achieve interperiod equity may negatively impact a government's financial condition.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following financial capability indicators is a measure of a government's capacity to issue bonded debt?

Accepted Answer

A)  Revenue dispersion. 
B)  Property taxes per capita. 
C)  Bonded debt per capita. 
D)  Available legal debt limit. 
A)  Revenue dispersion. 
B)  Property taxes per capita. 
C)  Bonded debt per capita. 
D)  Available legal debt limit.

Question 17

Which of the following governments would have publicly accessible information available through the Electronic Municipal Market Access (EMMA)?

Accepted Answer

A)  A city that had issued revenue bonds. 
B)  A county that has entered into a capital lease. 
C)  All state and local governments over 25,000 in population. 
D)  Those state and local governments who have issued debt subject to Securities and Exchange Commission (SE
C)  oversight. 
A)  A city that had issued revenue bonds. 
B)  A county that has entered into a capital lease. 
C)  All state and local governments over 25,000 in population. 
D)  Those state and local governments who have issued debt subject to Securities and Exchange Commission (SE
C)  oversight.

Question 18

The key cause of municipal financial crises is the failure of management to raise taxes quickly enough in response to adverse environmental factors.

Accepted Answer

A) True 
 B)False

Question 19

Factors common to the bond rating agencies' risk assessment are the economy and a government's debts.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is a measure of the extent to which the government's business-type activities are self-supporting?

Accepted Answer

A)  Unrestricted net position/total revenues. 
B)  Business-type activities revenues/business-type activities expenses. 
C)  Total net position (governmental activities and business-type activities) less total net position at the beginning of the year. 
D)  Total revenues/total expenses. 
A)  Unrestricted net position/total revenues. 
B)  Business-type activities revenues/business-type activities expenses. 
C)  Total net position (governmental activities and business-type activities) less total net position at the beginning of the year. 
D)  Total revenues/total expenses.

The term financial position is closely related to the term liquidity.

A tax watchdog group is an example of an intermediary that represents citizen interests.

Electronic Municipal Market Access (EMMA)is a source of all state and local government comprehensive annual financial reports (CAFRs).

Discuss how despite significant improvements in the quality of government financial reporting over the years there are still serious,high profile public sector financial crises.How does the quality of financial reporting affect the ability to evaluate financial condition?

Political culture,such as attitudes towards taxes,is an example in the ICMA's Financial Trend Monitoring Systems of:

Describe how financial performance is related to the operating performance of a government entity.

A large intergovernmental revenues ratio can be viewed as a positive sign concerning a government's financial condition.

Describe some ratios that can be calculated using the basic financial statements that will help a decision maker assess the financial position of the government.

Identify the following factors that affect financial condition as environmental factors (E)or financial factors (F).

Internal managers and credit analysts evaluate financial condition of a government in the same way.

Which of the following ratios would be considered favorable if it was low?

The term that is closely related to the concept of liquidity is

How do credit analysts assist decision makers in evaluating the credit worthiness of a state or local government?

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

Failure to achieve interperiod equity may negatively impact a government's financial condition.

Which of the following financial capability indicators is a measure of a government's capacity to issue bonded debt?

Which of the following governments would have publicly accessible information available through the Electronic Municipal Market Access (EMMA)?

The key cause of municipal financial crises is the failure of management to raise taxes quickly enough in response to adverse environmental factors.

Factors common to the bond rating agencies' risk assessment are the economy and a government's debts.

Which of the following is a measure of the extent to which the government's business-type activities are self-supporting?

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Entities

Principles of Accounting and Financial Reporting for State and Local Governments

Governmental Operating Statement Accounts Budgetary Accounting

Accounting for Governmental Operating Activitiesillustrative Transactions and Financial Statements

Accounting for General Capital Assets and Capital Projects

Accounting for General Long-Term Liabilities and Debt Service

Accounting for the Business-Type Activities of State and Local Governments

Accounting for Fiduciary Activitiesagency and Trust Funds

Financial Reporting of State and Local Governments

Auditing of Governmental and Not-For-Profit Organizations

Budgeting and Performance Measurement

Accounting for Not-For-Profit Organizations

Not-For-Profit Organizationsregulatory, Taxation, and Performance Issues

Accounting for Colleges and Universities

Accounting for Health Care Organizations

Accounting and Reporting for the Federal Government Glossary

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Exam 10: Analysis of Governmental Financial Performance

The term financial position is closely related to the term liquidity.

A tax watchdog group is an example of an intermediary that represents citizen interests.

Electronic Municipal Market Access (EMMA)is a source of all state and local government comprehensive annual financial reports (CAFRs).

Discuss how despite significant improvements in the quality of government financial reporting over the years there are still serious,high profile public sector financial crises.How does the quality of financial reporting affect the ability to evaluate financial condition?

Political culture,such as attitudes towards taxes,is an example in the ICMA's Financial Trend Monitoring Systems of:

Describe how financial performance is related to the operating performance of a government entity.

A large intergovernmental revenues ratio can be viewed as a positive sign concerning a government's financial condition.

Describe some ratios that can be calculated using the basic financial statements that will help a decision maker assess the financial position of the government.

Identify the following factors that affect financial condition as environmental factors (E)or financial factors (F).

Internal managers and credit analysts evaluate financial condition of a government in the same way.

Which of the following ratios would be considered favorable if it was low?

The term that is closely related to the concept of liquidity is

How do credit analysts assist decision makers in evaluating the credit worthiness of a state or local government?

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

Failure to achieve interperiod equity may negatively impact a government's financial condition.

Which of the following financial capability indicators is a measure of a government's capacity to issue bonded debt?

Which of the following governments would have publicly accessible information available through the Electronic Municipal Market Access (EMMA)?

The key cause of municipal financial crises is the failure of management to raise taxes quickly enough in response to adverse environmental factors.

Factors common to the bond rating agencies' risk assessment are the economy and a government's debts.

Which of the following is a measure of the extent to which the government's business-type activities are self-supporting?

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Entities

Principles of Accounting and Financial Reporting for State and Local Governments

Governmental Operating Statement Accounts Budgetary Accounting

Accounting for Governmental Operating Activitiesillustrative Transactions and Financial Statements

Accounting for General Capital Assets and Capital Projects

Accounting for General Long-Term Liabilities and Debt Service

Accounting for the Business-Type Activities of State and Local Governments

Accounting for Fiduciary Activitiesagency and Trust Funds

Financial Reporting of State and Local Governments

Auditing of Governmental and Not-For-Profit Organizations

Budgeting and Performance Measurement

Accounting for Not-For-Profit Organizations

Not-For-Profit Organizationsregulatory, Taxation, and Performance Issues

Accounting for Colleges and Universities

Accounting for Health Care Organizations

Accounting and Reporting for the Federal Government Glossary

Filters