Which of the Following Is Not True About the Combining

question 28

Multiple Choice

Which of the following is not true about the combining financial statements?

• A) They are required whenever there a nonmajor column is used in one of the fund financial statements
• B) The total column in the combining statements is not always the same as the nonmajor funds column in the basic financial statements
• C) Both of the above
• D) Neither of the above

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Definitions:

Congruent

In agreement or harmony; often used in mathematics to refer to figures that are identical in shape and size.

Taft-Hartley Act

A 1947 federal law in the United States that restricts the activities and power of labor unions.

National Industrial Recovery Act

A 1933 U.S. legislation aimed at economic recovery during the Great Depression, which sought to stimulate industrial production and improve labor conditions.

National Industrial Recovery Act

A law enacted in 1933 as part of the New Deal to stimulate economic recovery by regulating industry, promoting fair wages and working hours, and encouraging collective bargaining for workers.