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.

---

Definitions:

Iceberg

A massive piece of ice found floating in the sea or grounded in shallow waters, typically broken off from a glacier.

Accessible

easy to approach, reach, enter, or use.

Direct Awareness

The immediate and intuitive recognition or perception of an object, situation, or truth without the need for reasoning.

Psychodynamic Theorists

Psychologists who study and apply the theories and methods originating from the work of Sigmund Freud, focusing on unconscious processes influencing behavior.