What basis of accounting is used to prepare Government-wide financial statements?

A) Modified accrual basis
B) Accrual basis
C) Cash basis
D) Fiduciary basis

B

Business

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All of the following would meet the criteria for an extraordinary item except gains or losses from:

A. A major casualty B. Prohibition under a newly enacted law or regulation C. An expropriation of assets D. Write-off of Accounts receivable

Business

The need for skilled employees in the United States has:

A) intensified in the service sector due to technology advancements. B) decreased because the number of jobs requiring a college education has declined. C) leveled off because government programs have improved skill levels of the workforce. D) decreased due to the rising number of highly-educated immigrants in the technology field.

Business