Governmental Fund-Basis Statements Are Prepared Using The________,and Must Be Converted

question 54

Multiple Choice

Governmental fund-basis statements are prepared using the________,and must be converted to the ________ to be incorporated in the government-wide statements.

• A) Accrual basis, modified accrual basis.
• B) Accrual basis, tax basis.
• C) Modified accrual basis, accrual basis.
• D) Cash basis, accrual basis.

---

Definitions:

Management Freedom

The extent to which managers have the autonomy to make decisions, innovate, and guide their teams without excessive constraints.

Benefits

Advantages or payments provided to employees in addition to their regular salaries, such as health insurance, pension plans, and paid vacation.

Costs

The amounts of money required for the production of goods or services, or the operation of a company or organization.

Formulate HR Policy

The process of developing guidelines and regulations for managing an organization’s human resources.