Which of the following is true regarding the Comprehensive Annual Financial Report (CAFR)?
A) The CAFR has three main sections: introductory, financial, and statistical.
B) Required Supplementary Information includes a Budgetary Comparison Schedule for the General Fund and all major special revenue funds that have a legally adopted annual budget (unless a statement is prepared).
C) Both of the above.
D) Neither of the above.

Question

Quizplus · Accepted Answer

Both options A and B are true regarding the Comprehensive Annual Financial Report (CAFR). The CAFR is divided into three main sections: introductory, financial and statistical, and the Required Supplementary Information (RSI) includes a Budgetary Comparison Schedule for the General Fund and all major special revenue funds that have a legally adopted annual budget (unless a statement is prepared).

Which of the Following Is True Regarding the Comprehensive Annual