Fund-Based Financial Statements Are Intended to Provide Detailed Financial Information

question 42

True/False

Fund-based financial statements are intended to provide detailed financial information about the governmental,business-type,and fiduciary activities of the primary government.

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Definitions:

Significant Figures

The number of digits in a value that contribute to its accuracy, typically used in scientific measurements.

Percent

A ratio or fraction out of 100 representing a part of a whole.

Cent

A monetary unit that is equal to one hundredth of the base unit of currency in many countries, such as the dollar or euro.

Accurate

The quality of being true, correct, or precise.