The GASB Does Not Require Supplementary Information to Be Reported

question 55

True/False

The GASB does not require supplementary information to be reported with its financial statements even if it is essential to establish appropriate context for the financial statements and notes.

---

Definitions:

Evaluating Practice

The process of examining and assessing the effectiveness or quality of practices to inform future improvements.

Social Worker

A professional dedicated to helping individuals, families, and communities cope with challenges by providing support, advocacy, and resources.

Types of Goals

The various categories into which objectives can be divided, typically based on time frame, scope, or specificity, such as short-term, long-term, personal, or professional.

Rationale for Contracts

The underlying reason or justification for establishing contracts, often to outline expectations, responsibilities, and protect the interests of all parties involved.