Which of the following statements relating to the requirements for financial reporting is not true?
A) General purpose financial statements include the notes to the financial statements
B) General purpose financial statements provide the minimum financial reporting necessary for fair representation of government activity
C) General purpose financial statements are part of the financial section of a comprehensive annual financial report
D) General purpose financial statements are part of required supplementary information
Correct Answer:
Verified
Q3: The purpose of the Management Discussion and
Q4: In order to convert the governmental fund
Q4: When operations of component units of government
Q5: Major funds are described as
A)the general fund
Q6: The GASB Statement No.34 reporting model includes,
Q6: Converting the governmental fund balance sheet to
Q9: Required supplementary information includes all of the
Q18: Which of the following could be considered
Q25: The most common difference between funds-based and
Q36: GASB Statement No.34 requirements for the reporting
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