3) Which of the following statements is true? (3pts) O a. A budget is a form of control usually having the force of law. b. A legally adopted budget provides both authorizations of and limitations on amounts that may be spent for particular purposes c. Budgets are typically only established for planned expenditures since revenues are uncertain d. Both a and b are true 7) Which of the following statements is correct? (3pts) Fund accounting refers to the maintenance of separate checking accounts for each cash fund so that they can be reconciled individually. Fund accounting refers to the accounting for the various investment funds that governments maintain. O The primary purpose of fund accounting is to segregate the accounting for these activities so that they can be monitored. O None of the above 8) Companies invest in financial derivatives: (3pts) To reduce exposure to currency-related risks In order to realize capital gains as their value increases As a means in which to enter desirable markets None of the above 9) Which of the following components is required in the Comprehensive Annual Financial (3pts) Report? a. Fund Financial Statements b. Government-wide financial statements c. Management discussion and analysis d.bandc e. a, b, and