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Exam ! - Term Definition A 1 Which standard issued by the...

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Term: A Definition: 1. Which standard issued by the Governmental Accounting Standards Board in 1999 requires two distinct sets of financial statements for state and local governments? A. GASB Statement No. 32. B. GASB Statement No. 33 C. GASB Statement No. 34. D. GASB Statement No. 35. E. GASB Statement No. 36. Term: A Definition: 2. Which group of governmental financial statements reports all revenues and all costs of providing services each year? A. GAAP-Based Financial Statements B. Fund-Based Financial Statements. C. Cost-Based Financial Statements. D. Government-Wide Financial Statements. E. General Fund Financial Statements.
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Term: A Definition: 3. Proprietary funds are A. Funds used to account for the activities of a government that are carried out primarily to provide services to citizens. B. Funds used to account for a government's ongoing organizations and activities that are similar to those operated by for-profit organizations.
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