Question: In accordance with GASB 34, Basic Financial Statementsand Managements Discussion and Analysis for State and Local Governments, governments should prepare a. Combined financial statements, using

In accordance with GASB 34, Basic Financial Statements—and Management’s Discussion and Analysis—

for State and Local Governments, governments should prepare

a. Combined financial statements, using the modified accrual basis of accounting and the flow of economic resources.

b. Combined financial statements, using the accrual basis of accounting and the flow of financial resources.

c. Government-wide financial statements, using the accrual basis of accounting and the flow of financial resources.

d. Government-wide financial statements, using the accrual basis of accounting and the flow of economic resources.

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