GASB Statement 34 Requires Enterprise Funds to Be Used Under

question 13

Multiple Choice

GASB Statement 34 requires enterprise funds to be used under which of the following circumstances?

• A) When the legal requirement exists that the cost of providing services for an activity, including capital costs, be recovered through fees or charges.
• B) When debt is backed by the full faith and credit of the government issuing it.
• C) When a government is restricted by grant covenants to cover the cost of providing services for an activity.
• D) All of the above.

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Definitions:

Proposed Expansion

Proposed expansion refers to a plan or suggestion to increase the size, scope, or operations of a business or project.

Information Interview

A conversation in which one seeks insights and information about a job, career field, industry, or company from someone knowledgeable.

Primary Research

Fresh studies conducted exclusively for this particular project.

Representative Sample

A subset of a population that accurately reflects the members of the entire population, used in statistical analysis.