The GASB Provides Three Criteria for Determining If a Fiduciary

question 33

Multiple Choice

The GASB provides three criteria for determining if a fiduciary relationship exists. Which of the following four is not one of the three criterion listed by the GASB?

• A) The assets are controlled by the government.
• B) The government is not to be involved in administrative decision-making concerning the fund assets.
• C) The assets related to the activity of the fund were not generated by the government's exchange or nonexchange revenues.
• D) The government does not receive any benefit from the assets in the fund.

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Definitions:

Balance Model

A theoretical framework for understanding how different elements within a system maintain a state of equilibrium or balance.

Elaboration Likelihood Model

A theory in social psychology that explains different ways of processing stimuli, why they are used, and their outcomes on attitude change, distinguishing between central and peripheral routes.

Infomercial

A television program that combines information and advertisement to promote a product or service in an informative manner.

Endorsing

The act of giving one's public approval or support to someone or something.