Comparisons of Budgeted Versus Actual Revenues and Expenditures Are

Multiple Choice

Comparisons of budgeted versus actual revenues and expenditures are

A) Required by GAAP for the General Fund and major special revenue funds for which an annual budget has been legally adopted.
B) Required by GAAP for all governmental fund types.
C) Required by generally accepted accounting principles (GAAP) for internal management reports only; not permitted for external financial reporting.
D) Optional under GASB standards for all funds.