If State Law Requires That Local Governments Prepare General Fund

question 85

Multiple Choice

If state law requires that local governments prepare General Fund and special revenue fund budgets on a basis that differs from the basis of accounting required by GAAP,then the budgetary comparison schedule or statements should

• A)Not be included as part of the basic financial statements.
• B)Be included with the actual figures presented on the budget basis and then reconciled to the GAAP basis.
• C)Be included with budget figures adjusted to the GAAP basis and presented only as part of the basic financial statements.
• D)Be included as part of management's discussion and analysis (MD&A).

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Definitions:

Partial Reinforcement

A technique in behavioral psychology where a behavior is reinforced only some of the time, leading to more resistant behavior to extinction.

Lever Pressing

A behavior often studied in operant conditioning experiments where an animal manipulates a lever to receive a reward or avoid a punishment.

Learned Frustration Response

A behavioral response developed over time in reaction to repeated frustrating situations or obstacles.

Learned Helplessness

A condition in which an individual learns to believe they are powerless to change a negative situation because previous attempts have been unsuccessful, leading to a lack of motivation or effort.