Which of the Following Is True Regarding the Reporting of Special

question 110

Multiple Choice

Which of the following is true regarding the reporting of special purpose governments?

• A) Special purpose governments are to prepare the same financial statements as general-purpose governments, in all cases.
• B) Special purpose governments that are governmental in nature and have more than one governmental program are allowed to prepare the governmental fund financial statements only.
• C) Special purpose governments that are governmental in nature and have only one governmental program are permitted to combine the government-wide statements and the governmental fund statements.
• D) All of the above are true.

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