The fund financial statements for governmental funds should include a
A)Statement of cash flows.
B)Statement of revenues,expenses,and changes in fund net assets.
C)Balance sheet.
D)Statement of activities.

Question

Quizplus · Accepted Answer

Governmental fund financial statements include a balance sheet and a statement of revenues, expenditures, and changes in fund balances, not a statement of cash flows or activities.

The Fund Financial Statements for Governmental Funds Should Include a