Which of the Following Statements Is True Regarding Fund Financial

question 46

Multiple Choice

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

• A) Fund financial statements report a government's activities and financial position as a whole.
• B) Fund 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 financial statements utilize the accrual basis of accounting much like any for-profit entity.
• D) Fund financial statements help to determine whether the government's overall financial position improved or deteriorated.
• E) Fund financial statements report all assets and liabilities in a way comparable to business-type accounting.

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Definitions:

Organizational Politics

Utilizing authority and social networks inside an organization to drive improvements that are beneficial for either the organization or its members.

Sports Car

A type of automobile designed for high speed, maneuverability, and aesthetic appeal, often featuring two seats and powerful engines.

Political Behaviors

Political behaviors are activities aimed at improving personal or organizational interests, typically within a workplace, through influence or manipulation.

Legitimate

Something that is lawful, rightful, or in accordance with established rules, standards, or principles.