What statements are required in the Government-wide Financial Statements?
A) Statement of Net Assets
B) Statement of Activities
C) Cash Flow Statement
D) Both A and B

Question

Quizplus · Accepted Answer

The Government-wide Financial Statements require both the Statement of Net Assets and the Statement of Activities in order to provide a complete picture of the financial position and activities of the government as a whole. The Cash Flow Statement is not required in these statements, although it may be separately presented in the Comprehensive Annual Financial Report (CAFR).

What Statements Are Required in the Government-Wide Financial Statements