Recently Effective Accounting Standards Require the Preparation of Two Separate

question 10

Multiple Choice

Recently effective accounting standards require the preparation of two separate sets of financial statements. The first set of fund financial statements are similar to the historical fund based reporting model. Which of the following statements is false concerning the additional financial statements that are now required?

• A) the statements are designed to focus on the governmental unit as a whole
• B) the statements consolidate all government operations on a full accrual basis
• C) the statements are designed to report on the profit making ability of the resources collected
• D) the statements adopt an economic measurement focus

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Definitions:

Mood Linkage

The phenomenon where individuals within a group share and mirror the emotional states of each other.

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, typically performing better on simple or practiced tasks.

Laughing

The involuntary reaction consisting of rhythmical, often audible contractions of the diaphragm and other parts of the respiratory system, frequently a response to humor.

Mood Contagion

The phenomenon where an individual's mood or emotions transfer to those around them.