Which of the following GAAP requirements for budgetary reporting is true? a. Original and final budget amounts

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Which of the following GAAP requirements for budgetary reporting is true?

a. Original and final budget amounts are required for the General Fund only,

b. Original and final budget amounts are required for the General Fund and major Special Revenue Funds only.

c. Original and final budget variance amounts are required only for those funds that adopt an annual budget.

d. Final budget amounts only are required for all governmental and proprietary funds.

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Governmental And Nonprofit Accounting Theory And Practice

ISBN: 9780132552721

9th Edition

Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,

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Question Posted: Feb 24, 2024 05:00 AM

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Which of the following GAAP requirements for budgetary reporting is true? a. Original and final budget amounts

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The correct option is b Original and final budget amounts are required for the General Fund and majo...View the full answer

Governmental And Nonprofit Accounting Theory And Practice

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