List the Basic Financial Statements Required by GASB Standards and Briefly

question 1

Essay

List the basic financial statements required by GASB standards and briefly explain their purposes.

---

Definitions:

Critical Research

An approach focusing on identifying and challenging underlying assumptions, power structures, and inequalities in societal phenomena.

Induction

Reasoning from observations to a theory that might explain the observations.

Empiricism

The view that knowledge should be based on experience and observation, on empirical as opposed to theoretical knowledge.

Positivism

A philosophical theory that asserts that genuine knowledge is based on natural phenomena and their properties and relations as verified by empirical sciences.