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Governmental Accounting Basics

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Governmental Accounting Basics

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Governmental Accounting Basics

Created by

KIM.JACOBS@MYFLORIDACFO.COM
KIM.JACOBS@MYFLORIDACFO.COM
United States

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Governmental Accounting Basics
 

Governmental Accounting BasicsOnline version

Governmental Accounting Basics

by KIM.JACOBS@MYFLORIDACFO.COM
1

What is the primary objective of governmental accounting?

2

What accounting method is typically used for governmental funds?

3

What is the purpose of financial accounting?

4

What is the benefit of fund accounting for governments?

5

What is the accounting equation for governmental funds?

6

What does a debit entry typically do to an asset account?

7

Which of the following is an example of a liability?

8

What does double-entry accounting require?

9

What is the correct entry when an agency spends $5,000 on office supplies?

10

What is the correct entry when revenue is earned but not yet received?

 
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