Which of the Following Expenditure Classification Schemes May Be Used

question 5

Multiple Choice

Which of the following expenditure classification schemes may be used by governmental funds

• A) Activity
• B) Character
• C) Function
• D) All of the above

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Definitions:

Values

Core beliefs or standards that guide behavior and decision-making within an organization or individual.

Sherman Act

A landmark federal statute in the field of United States antitrust law passed by Congress in 1890, which prohibits monopolistic business practices.

Price Fixing

A conspiracy among firms to set prices for a product.

Ethical

Pertains to the principles of right and wrong that guide an individual in making decisions that affect others. In business, it often refers to practices that are morally right, fair, and honest.