The GASB "Budgeting Principle" states that an annual budget should be adopted by (for) every:
A) Fiduciary fund type.
B) Fund of a government.
C) Governmental unit.
D) Governmental fund type except special revenue funds.

Question

Quizplus · Accepted Answer

The GASB "Budgeting Principle" states that an annual budget should be adopted by (for) every governmental unit. This includes all levels of government such as state, county, city, town, and village. The budget should be adopted by the governing board or official of the governmental unit.

The GASB "Budgeting Principle" States That an Annual Budget Should