117.Which of the following is not considered to be a major user group by the GASB?
A)Citizen groups.
B)Investors and creditors.
C)Government executive branch officials.
D)Legislative and oversight officials.
118.The highest bond rating assigned by Moody's is:
A)A+
B)A
C)AAA
D)AAA+
119.Which of the following items, helpful for analysis, could be found in the statistical section of the CAFR?
A)Assessed and actual (market) value of property.
B)Population trends.
C)Debt limit and margin.
D)All of the above.
120.The document often relied on for financial analysis by investors and creditors for bonds in the secondary market is:
A)The official statement issued by the government issuing the bonds.
B)The comprehensive annual financial report.
C)An analysis prepared by the government's auditor.
D)None of the above.
121.To compute the Financial Position-General Fund ratio, one would need to look in the CAFR for the:
A)Governmental funds Balance Sheet.
B)Governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances.
C)Both A and B above.
D)Neither A nor B above.
122.To compute the debt service to total expenditures, one would need to look in the CAFR for the:
A)Government-wide Statement of Net Position.
B)Proprietary funds Statement of Revenues, Expenses, and Changes in Fund Net Position.
C)Governmental fund-basis statements.
D)Enterprise fund Statement of Cash Flows.
123.To compute the net debt per capita, a user of financial statements would need to lookat (in the CAFR):
A) The government-wide Statement of Net Position and the population from the statistical section.
B)The debt and the amount available to pay that debt in the governmental funds Balance Sheet, and the population from the statistical section.
C)The debt in the governmental funds Balance Sheet, the amount available in the government-wide Statement of Net Position, and the population from the statistical section.
D)The debt in the government-wide Statement of Net Position, the amount available to pay that debt in the governmental funds Balance Sheet, and the population from the statistical section.
124.In order to compute the operating ratio-enterprise funds, one would look in the CAFR in which of the following sections?
A)In the government-wide Statement of Net Position.
B)In the proprietary funds Statement of Net Position.
C)In the proprietary funds Statement of Revenues, Expenses, and Changes in Fund Net Position.
D)In the proprietary funds Statement of Cash Flows.
125.Which of the following is true regarding Service Efforts and Accomplishments Reporting?
A)SEA reporting utilizes both financial and non-financial performance measures.
B)GASB standards require the reporting of service efforts and accomplishments for public school systems.
C)Service efforts and accomplishments reporting is commonly covered by the auditor’s opinion.
D)All of the above.
126.Service Efforts and Accomplishments reporting is relevant because:
A)SEA reporting provides more complete information about a government entity's performance than can be provided by the basic financial statements.
B)The GASB requires supplemental reporting of service efforts and accomplishments.
C)Enterprise fund statements do not do a good job of measuring efficiency or effectiveness.
D)All of the above.