In Addition to Government-Wide Statements, GASB Statement No

question 7

Multiple Choice

In addition to government-wide statements, GASB Statement No.34 requires fund financial statements be included in the government's basic set of financial statements.The basic fund financial statements that should be included for proprietary funds are

• A)the Balance Sheet and the Statement of Revenues, Expenditures, and Changes in Fund Balance.
• B)the Statement of Nets Assets, the Statement of Revenues, Expenses, and Changes in Fund Net Assets, and
• The Statement of Cash Flows.
• C)the Statement of Fiduciary Net Assets, and the Statement of Changes in Fiduciary Net Assets.
• D)the Balance Sheet, the Income Statement,
• The Statement of Cash Flows, and
• The Statement of Retained Earnings.

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Definitions:

Economic Hardship

Financial difficulties experienced by individuals or families that make it hard to meet basic needs such as food, shelter, and healthcare.

Homelessness

The condition of lacking a stable, permanent, and adequate place to live.

Child Support

Financial contributions legally required from a non-custodial parent to support their child or children's upbringing and welfare.

Acute Battering Incident

A specific episode of severe physical abuse, usually in the context of intimate partner violence.