Governments who prepare government-wide statements are not required to prepare separate fund-level financial statements within the three categories of funds: governmental, proprietary, and fiduciary.

Question

Quizplus · Accepted Answer

In addition to the government-wide statement, governments are required to prepare fund-level financial statements within the three categories of funds; governmental, proprietary and fiduciary.

Governments Who Prepare Government-Wide Statements Are Not Required to Prepare