GASB statement is the highest level of authorities rules for state and local government accounting.
Government Accounting Standard Board statements and interpretations are the best levels of authority beneath GASB's GAAP hierarchy as established via GASB Statement No. 76, The Hierarchy of typically accepted Accounting ideas for the country and nearby Governments, that's effective for FY 2016.
This concept statement is considered one of a series that the GASB has issued or will problem. Concepts Statements are intended to offer a conceptual framework of interrelated goals and essential principles that can be used as a foundation for organizing constant accounting and financial reporting requirements.
Required governmental fund statements are a balance sheet and an announcement of sales, costs, and modifications in fund balances. Required proprietary fund statements are an assertion of internet assets; an assertion of revenues, prices, and modifications in fund internet property; and a statement of coins flow.
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Answer:
If property rights are not well enforced, all of the following are likely to occur except;_________
A. a significant number of people will be willing to risk their funds by investing them in local businesses.
Explanation:
Other options are likely to occur, except option A. Investors cannot risk their capital investing in the local economy. This is the fate of an economy where property rights are not protected. This also underlines the need for each government to ensure that property rights are recognized and legally protected.
An ‘A’ is worth 4.0 points
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(edited)
Answer:
These two options represent nominal values:
-The price of a beignet is $3.00 in 2011.
-Maria's wage is $27.00 per hour in 2011.
They are expressed in monetary value without taking into account inflation, or without being represented in terms of something else.
This option represents real value:
-The price of a beignet is 0.33 paperback novels in 2011.
The price of a beignet, nominally $3.00 is being expressed in relation to the price of something else: paperback novels, whose nominal price is $9.00.
In other words, in real terms, a beignet costs a third of what a paperback novel costs.
