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Attached.
College of Administrative and Financial Sciences
Assignment 1
Deadline: (end of week 6) 29 /02/ 2020 @ 23:59
Course Name: Government and NonProfit Accounting
Student’s Name:
Course Code: ACCT 321
Student’s ID Number:
Semester: 2
CRN:
Academic Year: 1440/1441 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: …… /5
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via an
allocated folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
• Students must mention the question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students
or other resources without proper referencing will result in ZERO marks. No
exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced)
font. No pictures containing text will be accepted and will be considered
plagiarism).
• Submissions without this cover page will NOT be accepted.
Assignment Question(s):
(Marks. 5)
Q1. Realizing the need for public transportation, the government of KSA has established a
legally separate public benefit corporation named Metro City Transport. In the law
establishing Metro City Transport, it was authorized to appoint Metro's entire governing
body. When Metro City Transport went to prepare its financial statements, two questions
were raised. Was Metro City Transport a government? And if it were a government, how
should it prepare its Cash flow statement?
Required:
Question 1 Part a.
Based on the characteristics of Metro City Transport, it meets the qualification and
definitions of a governmental entity. The specific factors in this situation that cause Metro to be a
government entity and not a private entity are the f...