Under the Existing GAAP Hierarchy for State and Local Government

question 19

Multiple Choice

Under the existing GAAP hierarchy for state and local government financial reporting, the GASB Implementation guides are:

• A) More authoritative than GASB Statements.
• B) Equally authoritative to GASB Technical Bulletins.
• C) More authoritative than the AICPA state and local government audit guide.
• D) Less authoritative than AICPA Practice Bulletins.

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Definitions:

Pleasure Principle

A psychoanalytic concept that suggests the driving force of behavior is the desire to maximize pleasure and avoid pain, guiding the id aspect of personality.

Id

In psychoanalytic theory, the part of the mind in which innate instinctive impulses and primary processes are manifest.

Schema

A cognitive framework or concept that organizes and interprets information in the brain, influencing perception and understanding.

Ego

In psychoanalytic theory, the part of the personality that mediates between the demands of the id, the superego, and reality. It's involved in our sense of personal identity and our conscious decision-making.