Where should infrastructure assets and long-term liabilities issued to finance infrastructure be reported?
A) Letter of transmittal.
B) Fund financial statements.
C) Management's discussion and analysis.
D) Government-wide financial statements.

Question

Quizplus · Accepted Answer

Infrastructure assets and long-term liabilities issued to finance infrastructure should be reported in the government-wide financial statements, as mandated by GASB 34. This statement provides information on the overall financial position and activities of the government, including infrastructure assets and liabilities. The fund financial statements, management's discussion and analysis, and letter of transmittal provide more specific information on specific funds or aspects of the government's operations, but the government-wide financial statements give a more comprehensive picture.

Where Should Infrastructure Assets and Long-Term Liabilities Issued to Finance