With Respect to Budgetary Reporting by Governments, Which of the Following

question 73

Multiple Choice

With respect to budgetary reporting by governments, which of the following is not true?

• A) While GASB standards guide the format of the comparison, it does not require governments to maintain budgetary accounts.
• B) The basis of accounting used to report the "Actual" column in the budgetary comparison schedule is prepared according to legal requirements for budget preparation; even if it is a departure from GASB standards.
• C) Budgetary accounts are required to appear in the general purpose financial statements.
• D) GASB standards require governments to present a comparison of budgeted and actual results for the General Fund and special revenue funds with legally adopted budgets.

---

Definitions:

Sympathetic Neurons

Neurons that are part of the sympathetic nervous system, responsible for the body's 'fight or flight' response.

Neural

Pertaining to the nerves or the nervous system.

Autocrine

Relating to or denoting a mode of hormone action where a hormone affects the same cell type that produced it.

Nuclear Receptor

A class of proteins within cells that, upon binding with a ligand, can act as transcription factors to regulate gene expression.