GASB requires that government entities present their budget-to-actual comparison data on which of the following bases of accounting?
A) Budgetary basis.
B) Cash basis.
C) Modified accrual basis.
D) Accrual basis.

Question

Quizplus · Accepted Answer

GASB (Governmental Accounting Standards Board) requires that government entities present their budget-to-actual comparison data on the budgetary basis of accounting. This is because budgets are typically prepared and adopted using a budgetary basis, which may differ from the entity's basis of accounting used for financial reporting purposes.

GASB Requires That Government Entities Present Their Budget-To-Actual Comparison Data