GASB provides guidance for reporting by special-purpose entities. That guidance depends upon whether special-purpose entities are engaged

Question:

GASB provides guidance for reporting by special-purpose entities. That guidance depends upon whether special-purpose entities are engaged in activities that are governmental-type, business-type only, or fiduciary-type only. List required basic financial statements for:

a. Governments engaged in business-type activities only.

b. Governments engaged in fiduciary-type activities only.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...