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,and to demonstrate compliance with finance-related legal and contractual provisions.
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.