If a State Law Requires That Local Governments Prepare General

question 43

Multiple Choice

If a state law requires that local governments prepare General Fund and special revenue fund budgets on a basis that differs from the basis of accounting required by generally accepted accounting principles (GAAP) :

• A) The actual amounts in the budgetary comparison schedule should be reported using the government's budgetary basis.
• B) The actual amounts in the budgetary comparison schedule should be reported on the GAAP basis.
• C) Both the budgeted and actual amounts in the budgetary comparison schedule should be reported on the GAAP basis; a separate budget-basis comparison schedule should be prepared for the appropriate state oversight body.
• D) Only a budgetary comparison schedule prepared for the appropriate state oversight body is required.

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Definitions:

Interval Schedule

A type of reinforcement schedule in operant conditioning that delivers a reward after a variable or fixed interval of time has passed.

Operant Response Rates

The rate at which an organism performs a behavior that is reinforced by a consequence in a given period, used in operant conditioning research.

Personal Freedom

The liberty of individuals to pursue their own interests and choices without undue interference or restriction from societal norms or government.

Pleasure-Seeking Tendencies

The inclination towards behaviors or activities that provide immediate gratification or enjoyment.