Which of the Following Statements Is Not Consistent with the GASB's

question 26

Multiple Choice

Which of the following statements is not consistent with the GASB's "Budgeting, Budgetary Control, and Budgetary Reporting Principle"?

• A) An annual budget must be adopted using generally accepted accounting principles.
• B) The accounting system should provide the basis for appropriate budgetary control.
• C) Budgetary comparisons should be presented for the General Fund and each major special revenue fund for which an annual budget has been adopted.
• D) The budgetary comparisons should present both the original and the final appropriated budgets for the reporting period.

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values; a high standard deviation indicates greater variability.

Standard Normal Distribution

A normal distribution with a mean of 0 and a standard deviation of 1, used in z-score calculations to determine probabilities.

Normal Distribution

A statistical distribution which is evenly spread around the mean, indicating that occurrences close to the mean are more common than those further away.

Frequency Distributions

Showcases how often each different value in a set of data occurs.