Which of the following is NOT a reason that legally adopted budgets may not be readily comparable to amounts reported in the GAAP-based financial statements?
A) Differences in basis of accounting.
B) Differences in timing.
C) Differences in reporting entity.
D) Differences in recognition.

Question

Quizplus · Accepted Answer

Differences in recognition are not typically a reason for discrepancies between legally adopted budgets and GAAP-based financial statements. The other options (A, B, C) are common reasons for such differences.

Which of the Following Is NOT a Reason That Legally