Which of the Following Is True Regarding the Comprehensive Annual

question 127

Multiple Choice

Which of the following is true regarding the Comprehensive Annual Financial Report (CAFR) ?

• A) The CAFR has three main sections: introductory, financial, and statistical.
• B) Required Supplementary Information includes a Budgetary Comparison Schedule for the General Fund and all major special revenue funds that have a legally adopted annual budget (unless a statement is prepared).
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Confirmation Bias

A propensity for selecting, interpreting, favoring, and recollecting data that affirms one's previously held beliefs or suppositions.

Fixation

In psychology, a persistent focus of attention or obsession on an object or subject.

Framing Effect

Describes how the presentation or framing of information can influence individuals' decisions and perceptions.

Confirmation Bias

The habit of looking for, understanding, preferring, and remembering information that validates one's existing views or theories.