Comprehensive Annual Financial Report (CAFR) Is the Report That Encompasses

question 247

Multiple Choice

Comprehensive annual financial report (CAFR) is the report that encompasses all funds and account groups of the primary government (including its blended component units) . The CAFR should also encompass all discretely presented component units of the reporting entity. Every CAFR must contain three basic sections are given below please choose the correct option:

• A) Introductory - Provides general information on the government's structure, personnel, and finances.
• B) Comparability - Reports should be generally consistent to provide a comparison between entities.
• C) Financial - Provides information on fund types, individual funds, and account groups.
• D) Statistical - Provides trend and demographic data to present financial indicators and other useful information to assess a government's financial condition.