With Respect to Budgetary Reporting by Governments, Which of the Following

question 73

Multiple Choice

With respect to budgetary reporting by governments, which of the following is not true?

• A) While GASB standards guide the format of the comparison, it does not require governments to maintain budgetary accounts.
• B) The basis of accounting used to report the "Actual" column in the budgetary comparison schedule is prepared according to legal requirements for budget preparation; even if it is a departure from GASB standards.
• C) Budgetary accounts are required to appear in the general purpose financial statements.
• D) GASB standards require governments to present a comparison of budgeted and actual results for the General Fund and special revenue funds with legally adopted budgets.

---

Definitions:

National Agenda

Refers to a set of objectives and priorities adopted by a government or organization, aiming to address major issues and guide policy and decision-making.

Unjust Dismissal

Termination of employment without fair reason or in violation of contractual or lawful procedures.

Collective Bargaining

A process where employers and a group of employees negotiate to determine the terms of employment, including wages, hours, benefits, and working conditions.

Dispute Resolution

A broad spectrum of processes including mediation, arbitration, and negotiation used to resolve conflicts or disputes without resorting to litigation.