According to GASB Concepts Statement No

question 50

Multiple Choice

According to GASB Concepts Statement No. 1, what are the three groups of primary users of external state and local governmental financial reports?

• A) The Securities and Exchange Commission, the citizenry, and legislative and oversight bodies.
• B) The Securities and Exchange Commission, legislative and oversight bodies, and investors and creditors.
• C) The Securities and Exchange Commission, the citizenry, and investors and creditors.
• D) The citizenry, legislative and oversight bodies, and investors and creditors.
• E) The citizenry, management, and the Governmental Accounting Office.

---

Definitions:

Ground Strap

Used by technicians when working on electronic circuits; grounds electrostatic charge accumulation to prevent it from being discharged into sensitive electronic circuits.

Electrostatic Discharge

The sudden flow of electricity between two electrically charged objects caused by contact or an electrical short, posing a risk to electronic components.

Stationary and Mobile Computer Systems

refers to computer systems that are either fixed in one location (stationary) or designed to be moved easily (mobile), each serving different computing needs.

Deutsch Connector Terminals

Electrical connector components designed for robust and secure connections in challenging environments, often used in automotive and industrial applications.