The Highest Level of Priority of Pronouncements That a Government

question 10

Multiple Choice

The highest level of priority of pronouncements that a government entity should look to for accounting and reporting guidance is:

• A) GASB Technical Bulletins.
• B) GASB Concepts Statements.
• C) AICPA Industry Accounting Guides.
• D) GASB Statements.

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Definitions:

Legislation

Laws and statutory regulations enacted by a government's legislative body.

Field of Negligence

An area of tort law that deals with breaches of duty causing harm or injury to others.

Occupiers' Liability Act

Legislation defining the duty of care owed by those who control land or buildings towards those who enter the premises.

Private Nuisance

An unlawful interference with the use or enjoyment of a property, usually by causing harm or obstruction.