For basic financial statements of a local government to be ...

[tuffie]

For basic financial statements of a local government to be presented fairly in all material respects, the basic financial statements must include an opinion unit for:
 
  A. Governmental activities in the government-wide financial statements.
  B. All funds in the special revenue fund type reported together as a unit.
  C. Investment trust funds as a unit apart from other fiduciary funds.
  D. All agency funds reported together as a unit.

Question 2

Accruals are needed when an unrecorded expense has been incurred or an unrecorded revenue has been earned.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[scikid]

Answer to Question 1

A

Answer to Question 2

True

[tuffie]

Gracias!

[mcarey591]

Excellent