The Accounting System Used by a State or Local Government

Multiple Choice

The accounting system used by a state or local government must make it possible

A) To present fairly the financial position and results of financial operations of the government as a whole,as well as fund financial activity in conformity with GAAP.
B) To prepare financial statements as required by the Financial Accounting Standards Board.
C) To prepare consolidated accrual basis statements for the government as a whole.
D) To provide Web-based bond offering statements to investment firms.