The Difference Between a General-Purpose and Single-Purpose Local Government Is

question 41

Multiple Choice

The difference between a general-purpose and single-purpose local government is

• A)general-purpose local governments are prohibited from providing specific services, such as libraries, but single-purpose districts can provide any specific service.
• B)general-purpose local governments provide a wide range of functions whereas single-purpose governments perform a specific function.
• C)none. There are no substantive differences; these are just two names for the same type of government.
• D)single-purpose local governments are prohibited from providing a specific services, such as libraries, but general-purpose districts can provide any specific service.

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Definitions:

Indirect Method

A financial reporting approach to prepare the cash flow statement where non-cash activities are adjusted to the net income to calculate cash flow from operating activities.

Statement of Cash Flows

A financial statement that details the inflows and outflows of cash within a company during a specific period.

Cash Receipts

The collection of money (cash, checks, electronic transfers) by a business from its customers, either for goods sold or services provided.

Cash Flows

Cash flows refer to the net amount of cash and cash-equivalents being transferred into and out of a business.