The Minimum Requirements for General Purpose External Financial Reporting Are

question 29

True/False

The minimum requirements for general purpose external financial reporting are (1) management's discussion and analysis (MD&A), (2) the basic financial statements, including the notes to the financial statements, and (3) combining and individual fund financial statements.

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Definitions:

Schachter And Singer

Two psychologists who proposed the two-factor theory of emotion, which contends that physical arousal and cognitive labeling based on environmental context jointly create the experience of emotion.

Bodily Changes

Physical and physiological transformations that occur in the body due to various factors like aging, exercise, or health conditions.

Outward

Directed or moving away from the interior or center; relating to the external aspect or appearance of something.

Inward

Pertaining to or directed towards the inside, often in relation to introspection or internal processes.