What are the three major sections of the Comprehensive Annual Financial Report?
A) Introductory Section, Financial Section, Statistical Section
B) Introductory Section, Financial Section, Management Discussion and Analysis.
C) Introductory Section, Financial Section, Budgetary Comparison
D) Introductory Section, Financial Section, Reporting Infrastructure

Question

Quizplus · Accepted Answer

The three major sections of the Comprehensive Annual Financial Report are the Introductory Section, Financial Section, and Statistical Section. The Introductory Section includes a letter of transmittal and other introductory materials. The Financial Section includes financial statements, notes to the financial statements, and required supplementary information. The Statistical Section includes a variety of financial and demographic data. Choice B includes Management Discussion and Analysis, which is a required part of the Financial Section. Choice C includes Budgetary Comparison, which is a required part of the Introductory Section. Choice D includes Reporting Infrastructure, which is not a section of the Comprehensive Annual Financial Report.

What Are the Three Major Sections of the Comprehensive Annual