The GASB provides three criteria for determining if a fiduciary relationship exists. Which of the following four is not one of the three criterion listed by the GASB?
A. The government does not receive any benefit from the assets in the fund.
B. The assets related to the activity of the fund were not generated by the government's exchange or nonexchange revenues.
C. The assets are controlled by the government.
D. The government is not to be involved in administrative decision-making concerning the fund assets.
Answer: D
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_________________________ depreciation is the GAAP depreciation method used most frequently
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The body of legal rules of today that were derived from fundamental usages and customs of antiquity, particularly as they appeared in medieval England, and from modern judgments of appellate courts that recognize and apply those customs in specific cases, is called the _________
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In 2021, Hope Company incurred sales on account of $100,000. The company also has the following information: December 31, 2021December 31, 2020Accounts Receivable$20,000 $50,000 Accounts Payable$40,000 $65,000 What is the amount of cash received from customers for Hope Company in 2021?
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