Which of the Following Is NOT a Reason That Legally

question 69

Multiple Choice

Which of the following is NOT a reason that legally adopted budgets may not be readily comparable to amounts reported in the GAAP-based financial statements?

• A) Differences in basis of accounting.
• B) Differences in timing.
• C) Differences in reporting entity.
• D) Differences in recognition.

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Definitions:

Characteristic

A distinguishing trait, quality, or property that defines an individual, group, or thing.

Stigma

A mark of disgrace associated with a particular circumstance, quality, or person.

Homosexuals

Individuals who are sexually attracted to people of their own sex.

Parents

Biological, adoptive, or foster individuals who care for and raise children, providing emotional, financial, and physical support.