For a Junior Member of a Status-Conscious Organization,the Direct Approach

question 59

True/False

For a junior member of a status-conscious organization,the direct approach is the most popular and convenient for business reports; it saves time,makes the rest of the report easier to follow,and produces a more forceful document.

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Definitions:

Enterprise Fund

A fund established by a government to account for operations financed by user charges, often used for utilities and public services.

Journal Entry

A recording of a transaction in an accounting journal that notes the debits and credits affecting the accounts involved.

GASB Statement No. 87

A statement issued by the Governmental Accounting Standards Board establishing guidelines for reporting lease transactions in governmental financial statements.

Financing Leases

Long-term lease agreements where the lessee assumes many of the economic risks and rewards of ownership.