Under GASB, 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

Governmental funds use modified accrual accounting. Government-wide, proprietary fund, and fiduciary fund statements are prepared using accrual accounting.

Under GASB, Modified Accrual Accounting Would Be Found in The