Generally Accepted Accounting Principles Applicable to State and Local Governments

question 29

Multiple Choice

Generally accepted accounting principles applicable to state and local governments require that

• A) Only governmental funds and proprietary funds should be established.
• B) Only those funds required by law, GASB standards, and sound financial administration should be established.
• C) Only those funds required by law and sound financial administration should be established.
• D) All categories of funds must be established.

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Definitions:

Deep Breath

A large inhalation of air into the lungs, used in various health and relaxation practices to increase oxygen intake.

Emergency Preparedness

The process of planning and taking measures ahead of time to ensure effective response to disasters, emergencies, or significant unexpected events.

In-Service Education

Continuing professional education activities provided to staff within their work environment.

Vital Sign Monitor

A device used to measure and display critical physiological parameters such as heart rate, blood pressure, respiratory rate, and body temperature.