Which of the Following Statements Is Not True with Respect

question 32

Multiple Choice

Which of the following statements is not true with respect to GASB Statement No.54 regarding restricted fund balances?

• A) Restricted funds are those that are subject to constraints imposed by external parties or by law.
• B) Restricted fund balance can result from legally enforceable requirements that resources be used only for specific purpose.
• C) Restricted funds are the result of a self-imposed constraint by a government upon itself.
• D) All of the above are correct

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Definitions:

Allegations

Claims or accusations made without proof, often seen in legal contexts before evidence is presented.

Complaint

A formal legal document initiating a lawsuit, detailing the facts and legal reasons the plaintiff believes are sufficient to support a claim against the defendant.

Subject Matter Jurisdiction

Legal authority granted to a court to hear and decide cases of a particular category or pertaining to a specific subject matter.

Jurisdiction

Jurisdiction refers to the official power or authority of a legal body to make decisions and judgments in certain geographical areas or over specific types of legal cases.