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TEST BANK and SOLUTION MANUAL for Accounting for Governmental Nonprofit Organizations Second Edition
- Exam (elaborations) • 100 pages • 2024
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1. A city levies property taxes in the amount of $4,000,000. 
Experience shows that about $100,000 of the amount levied 
will not be collected. 
Answer: 
Property taxes receivable 4,000,000 
Allowance for refunds and 
uncollectible taxes 100,000 
Revenues – property taxes 3,900,000 
Practice Exercise 
© Cambridge Business Publishers 17 
2. A city collects cash of $3,800,000 on the property tax levy. 
Answer: 
Cash 3,800,000 
Property taxes receivable 3,800,000 
Record Property Tax Entries 
©...
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Test-Bank-for-Information-Technology-Auditing and Internal Control 4th-Edition-337695137-C
- Exam (elaborations) • 24 pages • 2024
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1. Corporate management (including the CEO) must certify monthly and 
annually their organization’s internal controls over financial reporting. 
ANS: F PTS: 1 
2. Both the SEC and the PCAOB require management to use the COBIT framework for 
assessing internal control adequacy. 
ANS: F PTS: 1 
3. Both the SEC and the PCAOB require management to use the COSO framework for 
assessing internal control adequacy. 
ANS: F PTS: 1 
4. A qualified opinion on management’s assessment of internal control...
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TEST BANK and SOLUTION MANUAL for Information-Technology-Auditing-4th-Edition-Solution.
- Exam (elaborations) • 20 pages • 2024
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1. What is the purpose of an IT audit? 
Response: The purpose of an IT audit is to provide an independent assessment of some 
technology- or systems-related object, such as proper IT implementation, or controls over 
computer resources. Because most modern accounting information systems use IT, IT 
plays a significant role in a financial (external audit), where the purpose is to determine the 
fairness and accuracy of the financial statements. 
2. Discuss the concept of independence within the c...
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