As Identified by FASAB, Which of the Following Are Major

question 51

Multiple Choice

As identified by FASAB, which of the following are major user groups of federal financial reports?

• A) Congress, executives, program managers, and citizens.
• B) Congress, executives, citizens, and municipal rating agencies.
• C) Congress, program managers, foreign governments, and citizens.
• D) Congress, program managers, bond rating agencies, and political parties.

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Definitions:

Crop

A cultivated plant that is grown on a large scale commercially, especially a cereals, fruit, or vegetable.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a certain period of time.

Agricultural Commodities

Raw products derived from farming, ranching, and forestry which are traded on commodities markets, such as grains, livestock, and dairy products.

Income Elastic

Describes a situation where the demand for a good or service changes in response to changes in consumers' income levels.