Special-purpose governments that are engaged in both governmental and business-type activities or in more than one governmental activity are required to include all of the following in its financial statements except?
A) Required supplementary Information
B) Fund basis financial statements
C) Government-wide financial statements
D) Two year budgetary comparison

Question

Quizplus · Accepted Answer

Two year budgetary comparison is not required for special-purpose governments that are engaged in both governmental and business-type activities or in more than one governmental activity. However, they are required to include fund basis financial statements, government-wide financial statements, and required supplementary information in their financial statements.

Special-Purpose Governments That Are Engaged in Both Governmental and Business-Type