GASB Codification Section 2200

question 36

Multiple Choice

GASB Codification Section 2200.106-107 makes which of the following statements regarding Management's Discussion and Analysis?

• A) MD&A is required only for Proprietary Fund Financial Statements.
• B) MD&A is required for all state and local government financial statements.
• C) MD&A is only required for comprehensive annual financial reports.
• D) MD&A for state and local government financial statements must include an analysis of potential, untapped revenue sources.
• E) MD&A is an optional inclusion for state and local government financial statements.

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Definitions:

Individual Productivity

The rate or efficiency at which an individual can produce outcomes or complete tasks, often in a work or academic setting.

Ordinary People

Refers to average individuals in society who are not distinguished by wealth, position, or special achievements.

Agents of Destruction

Refers typically to factors or entities that cause significant harm or damage, whether physically, psychologically, or environmentally.

Groupthink

A psychological phenomenon that occurs within a group of people in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.