If You Had Just Won the Lottery and Were Asked

question 86

Multiple Choice

If you had just won the lottery and were asked how you would feel five years from now, research suggests you would predict:

• A) feeling very sad.
• B) feeling extremely happy and overjoyed.
• C) feeling about the same.
• D) feeling angry.

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Definitions:

Primary Users

The main audience or recipients of financial reports, typically considered to be existing and potential investors, lenders, and other creditors.

Capital Projects Fund

A governmental accounting fund used to account for financial resources set aside for the acquisition or development of major capital assets.

Governmental Fund Financial Statements

Financial reports that focus on the sources, uses, and balances of governmental funds and provide insight into fiscal accountability.

Proprietary Funds

Funds used by a governmental entity to account for activities similar to those found in private businesses, where the determination of net income, financial position, and changes in financial position is necessary.