Which of the Following Is the Basic Governmental Fund Accounting

question 37

Multiple Choice

Which of the following is the basic governmental fund accounting equation?

• A) Assets - Liabilities = Net Assets.
• B) Financial Assets - Related Liabilities = Fund Balance.
• C) Financial Assets + Deferred Outflows - Related Liabilities - Deferred Inflows = Fund Balance.
• D) Assets + Deferred Inflows - Liabilities - Deferred Outflows = Net Position

---

Definitions:

Organizational Identity

The self-concept of an organization based on its values, beliefs, culture, and ways of working, which distinguishes it from others.

Industry Structure

The organization and characteristics of a particular market or industry, including its competitive environment.

Strategic Choices

Decisions made by an organization's leaders about the direction and scope of the organization, influencing its competitive position and future success.

Diversification

A growth strategy to expand by acquisition of or investment in new and different business areas.