GASB Standards Require That All State and Local Governments Present

question 83

True/False

GASB standards require that all state and local governments present a statement of revenues, expenditures, and changes in fund balances-budget and actual for the General Fund and major special revenue funds for which annual budgets have been legally adopted.

---

Definitions:

Going Public

A strategy utilized by the president or other high-profile officials to gain public support for policies by addressing the nation directly, often through the media.

Climate of Opinion

The dominant or prevailing set of attitudes, beliefs, or sentiments held by a particular group or society at a given time.

Environmental Protection Agency

An independent executive agency of the United States federal government tasked with environmental protection matters and regulating the implementation of laws intended to protect the environment.

Offshore Drilling

The mechanical process of drilling below the seabed for the extraction of oil and gas resources.