Which of the Following Is Not True Regarding Financial Reporting

question 13

Multiple Choice

Which of the following is not true regarding financial reporting of special-purpose entities?

• A) Special-purpose entities might be included as component units in a primary government's financial statements.
• B) Special-purpose entities that engage in a single governmental activity may prepare statements that combine government-wide and governmental fund statements.
• C) Special-purpose entities that are engaged only in fiduciary activities must prepare a Statement of Activities and a Statement of Fiduciary Net Position.
• D) None of the above - all are true.

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Definitions:

Repression

Repression is a psychological defense mechanism where unpleasant thoughts, memories, or desires are kept out of conscious awareness.

Preconscious

Part of the mind that contains thoughts and feelings that are not currently in consciousness but can be readily brought to consciousness.

Collective Unconscious

A set of primordial stories and images, hypothesized by Carl Jung to be shared by all of humanity, and which he proposed underlie and shape our perceptions and desires.

Glove Anesthesia

A psychological condition in which a person experiences a loss of sensation in the hand and wrist that cannot be explained by medical reasons.