Which of the Following Would Be Included in a Properly

question 37

Multiple Choice

Which of the following would be included in a properly prepared comprehensive annual financial report (CAFR) , but not in the minimum requirements for general purpose financial reporting specified by GASB standards?

• A) Management's discussion and analysis (MD&A).
• B) Government-wide financial statements.
• C) Notes to the financial statements.
• D) Combining and individual fund financial statements.

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Definitions:

Traceable

Costs or items that can be directly linked or attributed to a specific product, job, or department, facilitating accurate costing and financial analysis.

Avoidable Cost

A cost that can be eliminated by choosing one alternative over another in a decision. This term is synonymous with differential cost and relevant cost.

Activity-Based Costing

An accounting method that assigns costs to products based on the activities involved in producing those products.

Decision

The process of making choices among alternative courses of action.