Under GASB Statement 34,modified accrual accounting would be found in the:
A) government-wide financial statements only.
B) governmental fund financial statements only.
C) governmental and fiduciary fund financial statements only.
D) governmental, proprietary, and fiduciary fund financial statements but not in the government-wide financial statements

Question

Quizplus · Accepted Answer

According to GASB Statement 34, modified accrual accounting is used in the governmental fund financial statements only. The government-wide financial statements use full accrual accounting, while fiduciary fund financial statements use a different basis of accounting.

Under GASB Statement 34,modified Accrual Accounting Would Be Found in The