Most of the revenues obtained by most governments come from:

Group of answer choices

a Taxes

b Sales of goods or services

c Borrowing

d All of these

Which of the following entities must use fund accounting for external financial reporting purposes?

Group of answer choices

a Businesses

b Nonprofit organizations

c State and local governments

d Federal government

e All of these

The FASAB establishes financial reporting standards for all governments.

Group of answer choices

a True

b False