GASB Statement No

question 14

Essay

GASB Statement No.34 requires a separate set of financial statements for each of the three categories of funds.Prepare an analysis of the basic types of fund categories, what the measurement focus is and the basis of accounting, and which basic financial statements are needed.

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Definitions:

Period Of The Zygote

Approximately a 2-week period from the time of fertilization of a human ovum by a sperm to the time of implantation in the uterine wall.

Period Of The Fetus

Lasting from the ninth week of gestation until birth, the time of rapid growth and further differentiation when the reproductive system forms, gains in body weight occur, and the brain and nervous system continue to develop.

Chromosomes

Structures made of DNA and proteins that contain the genetic information of an organism.

Teratogens

Agents that can cause developmental abnormalities or birth defects in a developing fetus when exposed to the mother.