Which of the Following Statements Is Not Consistent with the GASB's

question 26

Multiple Choice

Which of the following statements is not consistent with the GASB's "Budgeting, Budgetary Control, and Budgetary Reporting Principle"?

• A) An annual budget must be adopted using generally accepted accounting principles.
• B) The accounting system should provide the basis for appropriate budgetary control.
• C) Budgetary comparisons should be presented for the General Fund and each major special revenue fund for which an annual budget has been adopted.
• D) The budgetary comparisons should present both the original and the final appropriated budgets for the reporting period.

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Definitions:

Anticline

A fold, generally concave downward, with the oldest rocks in the center.

Syncline

A fold, generally concave upward, with the youngest rocks in the center.

Cleavage

A property of minerals that describes their tendency to break along flat surfaces based on their crystalline structure.

Strike-Slip Fault

A type of fault where rocks on either side move horizontally past one another, typically a result of shear stress.