Assume that a government has three nonmajor Enterprise Funds. Which of the following statements regarding the reporting requirements in a CAFR is false?
A) Nonmajor funds are not reported on an Enterprise Fund statement of cash flows.
B) Even if the funds are nonmajor, the government may choose to declare them as major funds and report each in a separate column on the appropriate fund statements.
C) The CAFR must include combining financial statements for any nonmajor fund columns that include more than one fund.
D) Nonmajor funds are reported in the aggregate on all proprietary fund financial statements.
Correct Answer:
Verified
Q1: Which fund types report the results of
Q2: A "dual opinion" audit is one where
A)
Q4: Which of the following financial statements would
Q5: The independent auditor's opinion covers, at a
Q6: The introductory section of a CAFR typically
Q7: GAAP does not require
A) A management's discussion
Q8: Which of the following must be included
Q9:
Q10: In reviewing their governmental funds, a local
Q11: In the statistical section, the required demographic
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents