A Measure of Whether the Government Lived Within Its Means

question 12

Multiple Choice

A measure of whether the government lived within its means in the measurement year,or was required to use prior year resources to fund a portion of current year costs,or shifted the funding of some current year costs to future periods,is

• A) Business-type activities revenues/business-type activities expenses.
• B) Unrestricted net position/total revenues.
• C) Total revenues/total expenditures.
• D) Total net position (governmental activities and business-type activities)less total net position at the beginning of the year.

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Definitions:

General Manager

An executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement.

Illegal Drugs

Substances whose manufacture, possession, or use is prohibited by law.

Gross Profits

The total revenue of a business minus the costs directly related to producing goods or services, before deducting any administrative expenses, taxes, or interest.

Debtor in Possession

A status in bankruptcy proceedings where a debtor maintains possession and control of their assets while undergoing reorganization under the bankruptcy code.