Which of the Following Statements Most Accurately Describes the Dual-Track

question 3

Multiple Choice

Which of the following statements most accurately describes the dual-track accounting system used in federal agency accounting?

• A) Recording internal budgetary transactions and proprietary transactions with external parties on a modified accrual basis of accounting.
• B) Use of double-entry accounting.
• C) Maintaining self-balancing sets of proprietary and budgetary accounts and recording the effects of transactions on both available budgetary resources and proprietary accounts.
• D) Keeping separate books, one on a tax basis and the other on a GAAP basis.

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Definitions:

Sociologist

A social scientist who studies the behavior, interactions, and structure of groups of people within societies.

Socialization

The process through which individuals learn and adopt the norms, values, and behaviors appropriate to their society or social group.

Agents of Socialization

Individuals, groups, or institutions that play a significant role in the socialization process, influencing the development of beliefs, values, and behaviors.

Sociologist

A social scientist who studies human societies, their interactions, and the processes that preserve and change them, focusing on social relationships, institutions, and behaviors.