Question
Which is true regarding the initial basis for the accounting of budgets and the basis of accounting for financial statements? A city must prepare budgets
Which is true regarding the initial basis for the accounting of budgets and the basis of accounting for financial statements?
A city must prepare budgets on a cash basis and reconcile the difference in the notes.
A city must prepare budgets on the same basis as the financial statements and reconciliation is not required.
A city must prepare budgets on a cash basis or encumbrance and reconciliation is not required.
A city must prepare budgets on an encumbrance basis and reconcile the difference in the notes.
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Principles Of External Auditing
Authors: Brenda Porter, David Hatherly, Jon Simon
3rd Edition
0470018259, 9780470018255
