Which of the following is a section of the general purpose external financial statements of a state or local government?
(1) Management's discussion and analysis (MD&A).
(2) Required supplementary information (other than MD&A).
(3) Basic financial statements and notes to financial statements.
A) 1 and 2.
B) 2 and 3.
C) 1 and 3.
D) 3 only.
E) 1, 2, and 3.

Question

Quizplus · Accepted Answer

All three components, Management's discussion and analysis (MD&A), Required supplementary information (other than MD&A), and Basic financial statements and notes to financial statements, are sections of the general purpose external financial statements of a state or local government.

Which of the Following Is a Section of the General