Combining financial statements for nonmajor funds of a government should be included in
A)The basic financial statements.
B)The notes to the financial statements.
C)As supplementary information in the comprehensive annual financial report (CAFR).
D)As part of the statistical section of the comprehensive annual financial report (CAFR).

Question

Quizplus · Accepted Answer

Combining financial statements for nonmajor funds of a government should be included as supplementary information in the comprehensive annual financial report (CAFR). This information provides additional detail and context for the basic financial statements, but is not considered essential to understanding the financial position of the government.

Combining Financial Statements for Nonmajor Funds of a Government Should