Which of the Following Is True Regarding the Governmental Fund

question 33

Multiple Choice

Which of the following is true regarding the governmental fund financial statements?

• A) The governmental fund financial statements include the Balance Sheet and the Statement of Revenues, Expenditures and Changes in Fund Balances
• B) The governmental fund financial statements are prepared on the current financial resources measurement focus and modified accrual basis of accounting
• C) The governmental fund Balance Sheet reflects Fund Balances as reserved and unreserved
• D) All of the above are true

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Definitions:

Foreseeability

A concept in tort law where certain harms should have been reasonably predicted or anticipated as a result of one's actions or omissions.

But For Causation

A legal principle that determines causation by asking whether an injury would have occurred 'but for' the defendant's actions.

Actual Cause

The determination that the defendant’s breach of duty resulted directly in the plaintiff’s injury.

Duty Of Care

The legal obligation to exercise a level of caution and attention to avoid harm to others or their property.