Budgetary comparison schedules (or statements)must be prepared for:
A)major governmental and proprietary funds
B)the General Fund and major Special Revenue Funds
C)only major governmental funds
D)all major fund and fiduciary funds

Question

Quizplus · Accepted Answer

Budgetary comparison schedules are prepared to provide a comparison of budgeted to actual results of financial activities. These schedules are required to be prepared for the General Fund and major Special Revenue Funds. While budgetary comparison statements are not required for proprietary funds, they are prepared for major governmental funds. Fiduciary funds do not require budgetary comparison schedules. Therefore, the best choice is B, only major governmental and proprietary funds.

Budgetary Comparison Schedules (Or Statements)must Be Prepared For