Which of These Defines the Term Metro Government

question 50

Multiple Choice

Which of these defines the term metro government?

• A) Consolidation of several existing local governments under one umbrella authority
• B) Intergovernmental agreements among city and county governments in metropolitan areas
• C) Annexation of land by city governments in urban areas
• D) Counties taking over city government functions,but leaving the city to collect the taxes
• E) A government created from a council of governments

Distinguish between assets and liabilities in the context of accounting transactions.

Understand the revenue and expense recognition principles.

Identify the components and calculation of the operating cycle.

Realize the impact of cash and accrual transactions on financial statements.