Question

According to GASB Statement 34, restricted net assets are those that are the result of constraints from: A. Imposed by law though constitutional provisions B. Imposed by enabling legislation C. Imposed by creditors or grantors D. All of the above

Answer 1

Answer: Option (D)

Explanation:

The GASB Statement 34 tends establish the new financial reporting statement for the federal and local authority and governments all throughout US. When implemented and enforce, it created new data and information and thus will therefore restructure most of information that the state and federal governments have proposed in past.