Governmental fund-basis statements are prepared using the________, and must be converted to the ________ to be incorporated in the government-wide statements.

Question

Quizplus · Accepted Answer

Governments funds follow modified accrual accounting and government-wide statements use the accrual basis of accounting so the governmental fund-basis statements must be converted to accrual accounting.

Governmental Fund-Basis Statements Are Prepared Using The________, and Must Be