Solved

GASB Requires That the Budgetary Basis of Accounting for the General

Question 89

True/False

GASB requires that the budgetary basis of accounting for the General Fund used in the Budget-Actual Comparison Schedule be on the same modified accrual basis as the governmental fund Statement of Revenues, Expenditures and Changes in Fund Balance.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q84: A Budgetary Comparison Schedule is:<br>A) optional under

Q85: Governmental funds may not record liabilities or

Q86: If "rainy day" funds are available "in

Q87: Assume encumbrances do not expire at year-end.

Q88: Where does the Budgetary Fund Balance --

Q90: Deferred Inflows of Resources have a credit

Q91: What would be the total Assigned fund

Q92: Briefly discuss how governmental budgeting differs from

Q93: Deferred Outflows of Resources have a debit

Q94: GASB standards _ that each governmental reporting