Which of the Following Differentiates the Accounting and Reporting for Federal

question 30

Multiple Choice

Which of the following differentiates the accounting and reporting for federal government agencies versus state and local governmental entities?

• A)State and local governments use accrual accounting in the proprietary and fiduciary funds as well as government-wide statements; federal agencies use only the cash basis of accounting.
• B)State and local governments do not account for apportionments and most do not account for allotments.
• C)The federal government uses a dual-track method of accounting for proprietary accounts and budgetary accounts; state and local governments do not use budgetary accounting.
• D)The budget is recorded in the general ledger of a state or local government, but not in a federal agency.

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Definitions:

Zone Of Proximal Development

A concept in developmental psychology referring to the difference between what a learner can do without help and what they can achieve with guidance and encouragement from a skilled partner.

Pretend Play

A type of imaginative play where children create scenarios and roles, often involving objects or actions representing something else.

Mental Acts

Cognitive processes involved in the acquisition, processing, storage, and retrieval of information.

Mutual Exclusivity Assumption

The cognitive bias prompting the assumption that any given object will have only one name, often observed in language acquisition.