Which of the Following Is Not One of the Seven

question 48

Multiple Choice

Which of the following is not one of the seven elements defined by the GASB concept statements?

• A) Deferred inflow of resources.
• B) Expenses.
• C) Assets.
• D) Net position.

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Definitions:

Sustainability Initiatives

Programs or actions taken by organizations or governments to maintain the balance of economic, environmental, and social systems for the well-being of current and future generations.

Business Strategy

A plan of action designed by organizations to achieve competitive advantage and meet their objectives.

Corporate Volunteerism

The policy or practice of employees volunteering their time or talents for charitable, educational, or other worthwhile activities, especially in the community.

Charitable Activities

Volunteer or donation-based efforts conducted by individuals or organizations to support causes and help those in need.