The Public Sector Accounting Board (PSAB)has Identified a Number of Characteristics

question 2

Multiple Choice

The Public Sector Accounting Board (PSAB) has identified a number of characteristics that differentiates governmental reporting from private sector reporting.Which of the following is one of those characteristics?

• A)The government's goal is to make a surplus.
• B)The focus of governmental capital spending is to maximize returns.
• C)Tangible capital assets are different in nature for governments.
• D)Governments have limited debt capacity.

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Definitions:

Dominant Manager

A key figure in an organization or team who holds primary authority and influence, guiding and controlling decision-making processes and direction.

Risks

The potential for events or actions to lead to a loss or an unwanted outcome, often evaluated in terms of probability and severity.

Modern World

The era characterized by rapid technological progress, industrialization, and significant changes in social, economic, and political structures, typically associated with the period from the 18th century onwards.

Systematic Knowledge

Organized and structured information accumulated and accepted within a particular field or discipline.