Which of the following is/are reporting requirements in funds-based statements under GASB Statement No.34?
A)the statements highlight major funds and aggregate non major funds into one column
B)provide detailed information about short term spending and fiscal compliance
C)separate funds based statements are required for governmental, proprietary, and fiduciary funds
D)All of the above

Question

Which of the following is/are reporting requirements in funds-based statements under GASB Statement No.34?
A)​the statements highlight major funds and aggregate non major funds into one column
B)​provide detailed information about short term spending and fiscal compliance
C)​separate funds based statements are required for governmental, proprietary, and fiduciary funds
D)​All of the above

Quizplus · Accepted Answer

All of the above are reporting requirements in funds-based statements under GASB Statement No. 34. The statements must highlight major funds and aggregate non-major funds into one column, provide detailed information about short-term spending and fiscal compliance, and separate funds-based statements are required for governmental, proprietary, and fiduciary funds.

Which of the Following Is/are Reporting Requirements in Funds-Based Statements