Unlike the General Fund and Other Major Governmental Funds for Which

question 21

True/False

Unlike the General Fund and other major governmental funds for which a budget is legally adopted, proprietary funds are not required by GASB standards to record budgets in their accounting systems, nor are they required to present a budgetary comparison schedule.

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Definitions:

Objective And Task Method

A budgeting approach where a company sets a budget based on the costs of the tasks necessary to achieve specific marketing objectives.

Competitive Parity Method

A marketing budgeting strategy where a company's spend is in line with its competitors to prevent market share loss.

Social Personality

Represents an individual's or brand's persona as projected or perceived on social media platforms.

Social Persona

An online identity a person adopts in social networks and digital platforms, which may differ from their real-life personality.