The Basic Financial Statements of a city do not include which of the following?

Question

Quizplus · Accepted Answer

While a government-wide Statement of Cash Flows is often included in financial reporting, it is not one of the basic financial statements required by generally accepted accounting principles (GAAP) for a city. The other options listed are all required basic financial statements, with the government-wide Statement of Net Assets and Statement of Activities providing information on the city's overall financial position and activities, while separate balance sheets for governmental and proprietary funds provide information on the financial position of specific funds.

The Basic Financial Statements of a City Do Not Include