Other Postemployment Benefits (OPEB) Include Benefits Other Than Pensions, Such

question 29

True/False

Other postemployment benefits (OPEB) include benefits other than pensions, such as health care, life insurance, and long-term care.

---

Definitions:

Statement of Cash Flows

A financial report that details the inflows and outflows of cash within a company over a specific period.

Governmental Fund Types

Types of funds used by governmental entities to account for their financial resources, including general, special revenue, debt service, capital projects, and permanent funds.

Modified Approach

Modified Approach is a method in governmental accounting allowing certain assets to be reported at historical cost, exempt from the regular depreciation accounting if they are maintained at predefined condition levels.

Infrastructure Assets

Long-term physical assets that are critical for providing public services, including roads, bridges, and water supply systems.