Question: An accountant is trying to determine whether the school system of the City of Abraham is fiscally independent. Which of the following is not a

An accountant is trying to determine whether the school system of the City of Abraham is fiscally independent. Which of the following is not a requirement for being deemed fiscally independent?

a. Holding property in its own name.
b. Issuing bonded debt without outside approval.
c. Passing its own budget without outside approval.
d. Setting taxes or rates without outside approval.

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