1. The Government-wide financial statements include a separate column for fiduciary fund information

1. The Government-wide financial statements include a separate column
for fiduciary fund information.

2.
Management’s Discussion and
Analysis (MD&A) in The Comprehensive Annual Financial Report (CAFR) is part
of the Introductory Section

3.
Government-wide statementsare to be prepared
using the economic resources measurement focus and accrual basis of accounting.

4.
Government-wide statementsare to be prepared
using the current financial resources measurement focus and modified accrual
basis of accounting.

5.
Prior-year data may be presented but are not required on government-wide
statements

6.
Prior-year data are required to be presented on government-wide
statements

7.
Fiduciary funds are required to prepare a Statement of Cash Flows using
the direct method.

8.
Government-wide financial
statements use the economic resources measurement focus and the accrual basis
of accounting.

9. A Comprehensive Annual Financial Report for a state or local
governmental unit should contain an introductory section, a financial section,
and a statistical section

10. A government may designate any fund to be a major fund if reporting
the fund separately would be useful.

11. The Comprehensive Annual Financial Report (CAFR) contains four major
sections: introductory, financial,
supplementary, and statistical.

12.
The fund balance reported in the Governmental Funds Balance Sheet must be
reconciled to the total net assets in the governmental activities column of the
government-wide Statements of Net Assets.

13.
The fund balance reported in the Governmental Funds Balance Sheet must equal
the total net assets in the governmental activities column of the
government-wide Statements of Net Assets.

14.
Fund balance is an account title
used only in governmental funds to indicate the excess of assets over
liabilities.

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