The Following Are Key Terms in Chapter 2 That Relate

Short Answer

The following are key terms in Chapter 2 that relate to principles of accounting and financial reporting for state and local governments:
A.Fund equity
B.Modified accrual basis
C.Reporting entity
D.Discrete presentation
E.Component unit
F.Accrual basis
G.Blended presentation
H.Governmental activities
For each of the following definitions,indicate the key term from the list above that best matches by placing the appropriate letter in the blank space next to the definition.