Which of the Following Is True Regarding GASB's Definition of the Financial

question 127

Multiple Choice

Which of the following is true regarding GASB's definition of the financial reporting entity?

• A) The financial reporting entity might include a primary government, component units, joint ventures, or a jointly governed organization.
• B) Primary governments may be general-purpose governments such as states, cities, and countiesor special-purpose governments that have separately elected governing bodies, are legally separate and are fiscally independent of other state or local governments.
• C) Blending is used to incorporate component units when those component units are, in substance, part of the primary government.
• D) All of the above are true.

Understand the role of the organizational environment and management practices in promoting employee productivity.

Recognize the impact of social media and the internet on organizational human relations.

Acknowledge the historical use of human relations techniques to influence worker perceptions and attitudes toward unions.

Understand the concept of inflation and its impact on different socioeconomic groups.

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Definitions:

Mutual Interdependence

A situation in which a change in price strategy (or in some other strategy) by one firm will affect the sales and profits of another firm (or other firms). Any firm that makes such a change can expect its rivals to react to the change.

Trademarks

Symbols, names, or phrases legally registered or established by use as representing a company or product.

Product Differentiation

A strategy in which one firm’s product is distinguished from competing products by means of its design, related services, quality, location, or other attributes (except price).

Monopolistic Competition

A market structure in which many firms sell a differentiated product, entry is relatively easy, each firm has some control over its product price, and there is considerable nonprice competition.