General fixed assets of the government are reported both in the government-wide financial statements and the governmental fund financial statements.
Answer the following statement true (T) or false (F)
False
Governmental funds are reported using the modified accrual basis of accounting. Governmental-type activities are reported in the government-wide statements using the accrual basis of accounting, including fixed assets and long-term debt.
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Under Section 24 of the Securities Act of 1933, the maximum penalty is imprisonment for:
A) Ten years. B) One year. C) Two years. D) Five years. E) Twenty years.
Which of the following acts proposed the creation of new organizations to monitor rules associated with the capital, liquidity, and risk of financial institutions to help prevent future failures of mega financial organizations?
A. Securities and Exchange Commission Act B. Wall Street Transparency and Accountability Act C. Emergency Economic Stabilization Act of 2008 D. Basel III Accord (2010) E. Dodd-Frank Wall Street Reform and Consumer Protection Act (2010)
The five categories of situational influences are
A. product involvement level, physical surroundings, social surroundings, time perspective, and purchase reason. B. antecedent states, physical surroundings, social surroundings, time perspective, and space dimensions. C. social surroundings, physical surroundings, time pressures, purchase reason, and lifestyles. D. purchase reason, time perspective, social surroundings, physical surroundings, and buyer's momentary mood. E. store atmosphere, location, aromas, sounds, and lighting.
Despite the U.S. economic crisis of 2008, research suggests that:
A. the government will most likely increase the federal tax rate, both for individuals and businesses. B. upcoming regulations will look toward eliminating enforceable contracts. C. housing prices are still likely to reach a record high. D. most budding entrepreneurs still plan to launch their firms in the next three years.