Which of the Following Statements Is True Regarding Fund-Based Financial

question 46

Multiple Choice

Which of the following statements is true regarding fund-based financial statements?

• A)Fund-based financial statements report a government's activities and financial position as a whole.
• B)Fund-based financial statements should tell the amount spent this year on such services as public safety,education,health and sanitation,and the construction of a new road.
• C)Fund-based financial statements utilize the accrual basis of accounting much like any for-profit entity.
• D)Fund-based financial statements help to determine whether the government's overall financial position improved or deteriorated.
• E)Fund-based financial statements report all assets,liabilities in a way comparable to business-type accounting.

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Definitions:

Benefits Unimportant

A perspective or situation where the advantages or positive outcomes of a product or service are undervalued or ignored by the customer or client.

Memorized Sales Presentation

A method of selling in which the sales pitch is precisely scripted for the salesperson.

Telephone Selling

The process of engaging potential customers through phone calls with the aim of promoting products or services and securing sales.

Core Principles

Fundamental beliefs or values that serve as the foundation for an organization, individual's actions, or the functioning of a system.