Assume Chestnut County prepares a CAFR. Combining financial statements would be required for a. Internal Service Funds
Question:
Assume Chestnut County prepares a CAFR. Combining financial statements would be required for
a. Internal Service Funds only.
b. Special Revenue Funds only.
c. all governmental fund types.
d. Enterprise Funds only.
e. None of the above.
Chestnut County has the following:
One General Fund Three major Special Revenue Funds One nonmajor Special Revenue Fund Two major Capital Projects Funds Two major Enterprise Funds One nonmajor Enterprise Fund Two Internal Service Funds One Pension Trust Fund One Agency Fund One blended component unit Two discretely presented component units Further assume that the blended component unit itself has a General Fund and a Capital Projects Fund, each of which meets the criteria for a major fund.
Step by Step Answer:
Governmental And Nonprofit Accounting Theory And Practice
ISBN: 9780132552721
9th Edition
Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,