GASB Standards Contain All of the Following in Its Three-Part

question 65

Multiple Choice

GASB standards contain all of the following in its three-part budgetary principle except:

• A) An annual budget should be adopted by every governmental unit.
• B) The accounting system should provide the basis for appropriate budgetary control.
• C) Budgetary comparisons should be included in the appropriate financial statement and schedules for governmental funds for which an annual budget has been adopted.
• D) None of the above; all would be included

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Definitions:

Extroversion

A personality trait characterized by outgoingness, high energy, and comfort in socializing and interacting with others.

Conscientiousness

is a personality trait characterized by diligence, carefulness, organization, self-discipline, and the ability to regulate oneself.

Conscientiousness

A characteristic that denotes being hardworking, meticulous, and having the motivation to perform a job effectively.

Extroversion

A personality trait characterized by being outgoing, talkative, and energetic in social situations.