Which fund category must change from modified accrual to accrual basis when preparing government-wide financial statements?
A) Governmental
B) Proprietary
C) Fiduciary
D) A & B only

Question

Quizplus · Accepted Answer

Governmental funds are prepared using the current financial resources measurement focus and the modified accrual basis of accounting and must change to accrual basis accounting when preparing the government-wide financial statements.

Which Fund Category Must Change from Modified Accrual to Accrual