Which of the Following Statements Is True Regarding Governmental Fund

Multiple Choice

Which of the following statements is true regarding governmental fund financial statements?

A) Governmental fund financial statements report a government's activities and financial position as a whole.
B) Governmental fund financial statements should tell the amount spent this year on such services as public safety, education, health and sanitation, and the construction of a new road.
C) Governmental fund financial statements utilize the accrual basis of accounting much like any for-profit entity.
D) Governmental fund financial statements help to determine whether the government's overall financial position improved or deteriorated.
E) Governmental fund financial statements report all assets and liabilities in a way comparable to business-type accounting.