Under GASB Statement No

question 12

True/False

Under GASB Statement No.34,the basic financial statements are to be preceded by the management's discussion and analysis (MD&A).

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Definitions:

Decentralized Operations

is an organizational structure where decision-making and operational responsibilities are delegated to individual departments or locations.

Support Department

A department that provides a necessary service to produce a product but is not directly involved in the production process. Also known as a service department.

Human Resources Department

The division of a business that is focused on activities relating to employees, including hiring, training, and benefits management.

Investment Center

A decentralized unit in which the manager has the responsibility and authority to make decisions that affect not only costs and revenues but also the fixed assets invested in the center.