What Is the Cornerstone of External Financial Reporting for Governmental

question 48

Multiple Choice

What is the cornerstone of external financial reporting for governmental units and not-for-profit organizations?

• A) show the flow of financial resources
• B) to determine profit or loss
• C) to compare budgeted to actual resources
• D) Accountability

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Definitions:

Reverse Auction

A type of auction in which sellers bid to provide goods or services to a buyer, and prices typically decrease as vendors compete.

Virtual

Referring to something that is not physically existing but made by software to appear to do so.

Online

Connected to or available through the internet or another computer network.

HR Technology Platform

Digital solutions that automate and facilitate managing human resource functions, including recruitment, payroll, performance management, and employee engagement.