GASB Requires the Statement of Cash Flows for Proprietary Funds

question 35

True/False

GASB requires the statement of cash flows for proprietary funds to be prepared using the direct method of presentation.

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Definitions:

Context

The circumstances, background, or settings that form the environment within which an event, statement, or idea is understood and interpreted.

Nonverbal Cues

Subtle gestures, expressions, and other physical actions that communicate messages without the use of words.

Selective Perception

The tendency to select information that supports our individual viewpoints while discounting information that threatens our viewpoints.

Social Perception

The process by which individuals form impressions of others and interpret information about them.