20&21

Which of the following is not one of GASB's financial reporting objectives? a. Providing information on service efforts and accomplishments b. Ensuring that budgeted revenues are equal to, or exceed, budgeted expenses c. Reporting on budgetary compliance d. Providing information on the extent to which interperiod equity is achieved What are ad valorem taxes? a. Taxes assessed on the historical value of the property as it is at assessment date b. Taxes assessed on the cost plus any improvements c. Taxes assessed on the most recent sales value of the item. d. Taxes assessed on the fair value of the property as it is at assessment date