UESTION 1 Significant differences exist between fund financial statements and the government-ide financial statements. Select the following statements that are CORRECT regarding those differences O A iscretety presented com o ent units are aided the government ide inancial statements, but are not included in the fund financial statements B Fund tinancial statements focus on reporting major governmental and enterprise funds, buit govemment-wide inancial statements focus on reporting the government as a whole CFund financial statements are prepared using the current resources measurement focus, but the DFiduciary tunds are included in the fund financial statements, but are not indkuded in the govemment-wide fnancial statements E Fund financial statements for governmental tunds use the modified accrual basis of accounting but the activity of those funds is presented in the government-wide finandal statements financial statements use the economic resources measurement focus using the full accrual basis of accounting FFund financial statements do not include a statement of cash flows, but the government-wide statements must present a statement of cash flows UESTION 1 Significant differences exist between fund financial statements and the government-ide financial statements. Select the following statements that are CORRECT regarding those differences O A iscretety presented com o ent units are aided the government ide inancial statements, but are not included in the fund financial statements B Fund tinancial statements focus on reporting major governmental and enterprise funds, buit govemment-wide inancial statements focus on reporting the government as a whole CFund financial statements are prepared using the current resources measurement focus, but the DFiduciary tunds are included in the fund financial statements, but are not indkuded in the govemment-wide fnancial statements E Fund financial statements for governmental tunds use the modified accrual basis of accounting but the activity of those funds is presented in the government-wide finandal statements financial statements use the economic resources measurement focus using the full accrual basis of accounting FFund financial statements do not include a statement of cash flows, but the government-wide statements must present a statement of cash flows