Other Financing Sources and Uses Are Disclosed in a Separate

question 11

True/False

Other financing sources and uses are disclosed in a separate section below expenditures on the statement of revenues, expenditures, and changes in fund balances.

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Definitions:

Stocks

Shares of ownership in a company, giving shareholders a claim on the company’s earnings and assets.

Sarbanes-Oxley Act

A law passed by U.S. Congress in 2002 aimed at protecting investors from fraudulent financial reporting by corporations.

Corporate Responsibility

This term refers to the self-imposed obligation of companies to act in a manner that is socially and environmentally beneficial.

Financial Statements

Formal records of the financial activities and position of a business, person, or entity, presenting the financial performance over a specific period.