The Following Are Key Terms in Chapter 7 That Relate

question 19

Short Answer

The following are key terms in Chapter 7 that relate accounting for the business-type activities of state and local governments:
A. Allowance for Funds Used during Construction
B. Revenue bonds
C. Utility plant acquisition adjustment
D. Regulatory accounting principles
E. Original cost
F. Historical cost
G. General obligation bonds
For each of the following definitions,indicate the key term from the list above that best matches by placing the appropriate letter in the blank space next to the definition.
_____ 1. In utility accounting,the net cost for the period of construction of borrowed funds used for construction purposes and a reasonable rate on other funds so used
_____ 2. Accounting principles prescribed by federal or state regulatory commissions for investor-owned and some governmentally owned utilities.
_____ 3. Bonds whose principal and interest are payable exclusively from earnings of a public enterprise.
_____ 4. Bonds which carry the pledge of the government entity's full faith and credit,although the intent may be to service them from proprietary revenues rather than general taxes.
_____ 5. The account that captures the premium paid on a utility plant purchased by a government.

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Definitions:

Task-Oriented Approach

A task-oriented approach is a method of working or learning in which the focus is placed squarely on completing specific tasks or objectives, often used in management and educational settings.

Job Analysis

The process of examining a job in detail to identify its duties, requirements, and the conditions under which it is performed.

Forklift

A powered industrial truck used to lift and move materials over short distances, commonly found in warehouses and manufacturing facilities.

Structured Interviews

Interview processes that use a set of predetermined questions and criteria to evaluate candidates consistently.