Which of the following is true regarding Management's Discussion and Analysis (MD&A)? Multiple Choice O MD&A should provide an objective analysis of the financial activities based on currently known facts, decisions, or conditions. O MD&A should disclose total assets and liabilities for all substantial component units. Management should provide a cash flow projection for at least three consecutive fiscal years in MD&A. O MD&A is optional for city governments. O MD&A is the final element of the introductory section of the comprehensive annual financial report (CAFR)