Which of the Following Is True Regarding the Governmental Fund

question 67

Multiple Choice

Which of the following is true regarding the governmental fund statements?

• A) The governmental fund statements include a Statement of Cash Flows prepared on the direct method.
• B) The governmental fund statements are prepared using the economic financial resources measurement focus and modified accrual accounting.
• C) Both A and B are true.
• D) Neither A nor B is true.

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