Which of the Following Is Not One of the Methods

question 59

Multiple Choice

Which of the following is not one of the methods recommended by the GASB Concepts Statement 3 for communicating information to external users of government financial reports?

• A) Providing a popular report.
• B) Recognition in the financial statements.
• C) Presentation as required supplementary information.
• D) Disclosure in the notes to the financial statements.

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Definitions:

Downward-sloping Demand Curve

A graph showing that the quantity demanded of a good or service varies inversely with its price, other things being equal.

Equilibrium Price

The price at which the quantity of a product demanded by consumers equals the quantity supplied by producers.

Consumer Surplus

The divergence between the total payment consumers are willing to make for a product or service and what they really pay.

Demand Increase

A situation where consumers are willing and able to purchase more of a product or service at each price level, often caused by changes in tastes, income, or prices of related goods.