The only objective of the Governmental Accounting Standards Board is to help users determine compliance with finance-related laws, rules, and regulations.
Answer the following statement true (T) or false (F)
False
The GASB has multiple objectives and has issued six concept statements to assist in meeting these objectives which addresses the needs of users of government: accounting information, service efforts and accomplishments, presentation of financial information, required supplementary information and disclosures, definitions and asset measurement.
You might also like to view...
Portia is meeting with her subordinates to determine which workers from her department need training in order to handle production increases expected during the next nine months. Portia is involved in
A. vision development. B. operational planning. C. controlling. D. tactical planning. E. developing an MBO.
A schedule of noncash investing and financing activities is not required when a statement of cash flows is prepared using the indirect method
Indicate whether the statement is true or false
Each of the following is a characteristic of a promissory note except a(n)
a. maturity date that can be determined on the date the note is signed. b. payee who has an unconditional right to receive a definite amount on a definite date. c. maker who agrees to pay a definite sum subject to certain conditions. d. amount to be paid that can be determined on the date the note is signed.
The quality of life at selected facility locations has a significant impact on performance because
A) network designers can use this fact to influence the role of the new facility and the focus of people working there. B) facilities last a long time and have an enduring impact on a firm's performance. C) the location of a facility has a significant impact on the extent and form of communication that develops in the supply chain network. D) it influences the work force available and their morale.