Which of the following statements is true regarding financial reporting by state and local governments?
A) The notes to the financial statements are not essential to fair presentation of the basic financial statements.
B) The notes are required supplementary information (RSI) .
C) The notes to the financial statements are not an integral part of the basic financial statements.
D) The notes to the financial statements are essential to fair presentation of the basic financial statements.
Correct Answer:
Verified
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