According to GASB Concepts Statement No

question 70

Multiple Choice

According to GASB Concepts Statement No. 1, what are the three groups of primary users of external state and local governmental financial reports?

• A) The Securities Exchange Commission, the citizenry, and legislative and oversight bodies.
• B) The Securities Exchange Commission, legislative and oversight bodies, and investors and creditors.
• C) The Securities Exchange Commission, the citizenry, and investors and creditors.
• D) The citizenry, legislative and oversight bodies, and investors and creditors.
• E) The citizenry, management, and the Governmental Accounting Office.

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Definitions:

Transportation Debt

The accumulated obligations incurred from funding the development, maintenance, and expansion of transportation infrastructure.

Spanish Colonies

Territories around the world that were once part of the Spanish Empire, marked by significant Spanish cultural and political influence from the 15th to the 19th centuries.

Austria-Hungary

A dual monarchy in Central and Eastern Europe between 1867 and 1918, comprised of the Austrian Empire and the Kingdom of Hungary.