List the Fund Financial Statements Required by GASB Statement 34

question 35

Essay

List the fund financial statements required by GASB Statement 34 for governmental type funds.

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Definitions:

Money Supply

The overall pool of economic resources in terms of money available at a particular time in an economy, including coins, paper money, and deposits in savings and checking accounts.

Fed

Short for the Federal Reserve, which is the central banking system of the United States, responsible for monetary policy.

Required Reserve Ratio

The fraction of deposits that banks are required by law to keep on hand or with the central bank as a reserve.

M1 Money Supply

A category of money supply that includes all physical money like coins and currency, as well as demand deposits and other liquid assets held by the central bank.