Which of the Following Is Required by OMB Circular A-136

question 50

Multiple Choice

Which of the following is required by OMB Circular A-136 in the basic financial statements?

• A) Statement of changes in net position.
• B) Statement of net assets.
• C) Statement of revenues, expenditures, and changes in fund balances.
• D) Statement of financing.

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Definitions:

Mnemonic

A learning technique that aids in memory retention or retrieval by associating complex information with simple patterns, phrases, or acronyms.

Sensory Memory

The shortest-term element of memory that acts as a buffer for stimuli received through the senses; a type of storage that holds sensory information very briefly.

Semantically

Semantically refers to the relation of something to the meaning or interpretation of words, phrases, signs, or symbols, rather than their form.

Echoic Memory

A form of sensory memory that retains auditory information for a short period.