Author Question: Which of the following organizations has had the least - impact on the development of GAAP for state ... (Read 61 times)

urbanoutfitters · **on:** Jul 6, 2018

Which of the following organizations has had the least - impact on the development of GAAP for state and local governments?

A. American Hospital Association.
B. Federal Accounting Standards Advisory Board
C. National Association of College and University Business Officers.
D. National Committee on Governmental Accounting.

Question 2

The city, which has a December 31 year end, was awarded a 400,000 federal grant for a system upgrade to meet FCC requirements. The grant was awarded and distributed in June 20X7 .

However, the capital project is not expected to be completed until June 20X8 . As of December 31, 20X7, the Cable Enterprise Fund should
a. report nonoperating revenues of 400,000
b. report nonoperating revenues of 200,000
c. report a capital contribution of 400,000
d. report a capital contribution of 200,000
e. report deferred revenue of 400,000