Because a Fund Is an Accounting Entity,each Fund Has

question 21

Multiple Choice

Because a fund is an accounting entity,each fund has
I.its own accounting equation.
II.its own journals,ledgers,and other accounting records.
III.its own separate auditor.

• A)I only
• B)II only
• C)I and II
• D)I,II and III

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Definitions:

Groupthink

A psychological phenomenon where the desire for harmony or conformity in a group results in an irrational or dysfunctional decision-making outcome.

Evolutionary

Pertaining to evolution, often used to describe biological or psychological theories that attribute the development of genetic traits and behaviors to natural selection and survival advantages.

Human History

The recorded events, societies, innovations, and significant changes over time that have shaped human civilization.

Prospective Mate

A potential partner in a romantic or sexual relationship, often considered for their compatibility or suitability for long-term connection.