Which Financial Statements Are Recommended by the PSAB for Presentation

question 23

Multiple Choice

Which financial statements are recommended by the PSAB for presentation by governments?

• A)Statement of financial position,statement of operations,statement of changes in net debt,and statement of cash flows
• B)Statement of financial position,statement of operations,and statement of net debt
• C)Statement of financial position and statement of operations only
• D)Statement of financial position and statement of net debt only

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Definitions:

Legal Force

The effectiveness or binding power of a legal document, law, or regulation.

Injunction

A court order that either restrains a party from doing or compels a party to do a specific act.

Court Order

A directive issued by a judge or court that requires a party to take or refrain from taking a specific action.

State Trial Courts

Courts within individual U.S. states that have jurisdiction to hear cases involving state law and issues.