FASAB Has Identified Four Major User Groups of Federal Financial

question 43

Multiple Choice

FASAB has identified four major user groups of federal financial reports,they are

• A) Congress,executives,program managers,and citizens.
• B) Congress,executives,citizens,and bond 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:

Required Reserves

The portion of deposits that banks are required to keep on hand and cannot lend out, typically mandated by a central bank.

Total Assets

The sum of all assets owned by an entity, including cash, investments, property, and other valuables, used to assess financial health.

Excess Reserves

The capital reserves held by banks over and above the minimum required by regulators, available for lending or investing.

Required Reserves

The minimum amount of reserves that a bank must hold, as mandated by the central bank, against its deposit liabilities.