An important part of management's discussion and analysis is management's forecast and projections regarding what could occur in the future if certain current unknown, but plausible, events occur.

Question

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Governments should describe facts, decisions, or conditions known to management as of the date of the auditor's report that are expected to significantly affect the government's financial position (net position) or results of operations (revenues, expenses, and other changes in net position). MD&A does not include projections about unknown events.

An Important Part of Management's Discussion and Analysis Is Management's