As part of a government's basic financial statements and required supplementary information, a budgetary comparison schedule is required for which funds?

Question

Quizplus · Accepted Answer

The budgetary comparison schedule is required for the General Fund and certain special revenue funds with legally adopted annual budgets. This is because these funds are subject to budgetary controls, meaning that the budget serves as a legal limitation on the amount of resources that can be spent or encumbered during the year. Therefore, budgetary information is necessary to provide context and information about compliance with legal restrictions for these funds.

As Part of a Government's Basic Financial Statements and Required