Explain why special purpose frameworks (also known as other comprehensive bases of accounting) may be used by a state or local government instead of GASB standards, which are generally accepted accounting principles (GAAP).
What will be an ideal response?
Some small state and local governments may conclude that the costs of complying with GAAP outweigh the benefits. Those governments may not be participants in the bond market, and therefore would not have the same set of users for their external financial statements as would governments with tax-exempt debt. Special purpose framework accounting records may be easier to prepare and easier to understand for users.
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At the national level in most of the world, what is the most important human component of diversity?
a. Immigrants b. Young people c. Women d. Gender identity
A dentist’s office providing TVs for patients in the waiting room is an example of?
a. Keeping customers informed b. Designing a fair waiting system c. Keeping customers occupied d. Grouping customers together
Answer the following statement(s) true (T) or false (F)
1. During Kelly’s expatriate assignment, she was paid half in U.S. dollars and half in Yen. This is an example of a balance sheet approach. 2. Gabrielle, who lives in England, took an expatriate assignment to Japan. During her assignment, she was paid in Yen. This is an example of a balance sheet approach to expatriate compensation. 3. Amelia was given one check to cover her pay while on a 3-month expatriate assignment. This is an example of a lump sum approach to expatriate compensation. 4. When Ava accepted an expatriate assignment, the organization continued to pay her at a rate equivalent to her home-country salary but also gave her an allowance to help with other expenses. This is an example of a lump sum approach to expatriate compensation. 5. When Isabella accepted an expatriate assignment, the organization paid her based on the host-country’s norms. This is an example of a localization approach to expatriate compensation. 6. Due to government laws, many of the European Union countries have to provide more benefits than in the United States.
A person who has a judgment from the court against a debtor will have priority over the debtor's secured creditors
Indicate whether the statement is true or false