Which of the following GAAP requirements for budgetary reporting is true? a. Original and final budget amounts
Question:
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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The correct option is c Original and final budget variance amounts are required only for those funds ...View the full answer
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Related Book For 
Governmental And Nonprofit Accounting
ISBN: 9781292040080
10th International Edition
Authors: Robert J. Freeman, Craig D. Shoulders, Gregory S. Allison, G. Robert Smith
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