Which of the following transactions have similar effects on both governmental funds and proprietary funds? A. Incurrence of interest on short-term debt B. Issuance of bands payable C. Purchase of capital assets D. Sale of capital assets Sub AW Select the best answer To comply with GAAP, a government is required to Issue: A. government-wide financial statements and fund financial statements. B. government-wide financial statements, but not notes to the financial statements. C. management's discussion and analysis, but not government-wide financial statements. D. nether management's discussion and analysis, nor fund financial statements. Submit Answ What must be true for a budgetary comparison statement for a particular fund, other than the general fund, to be required by GAAP in the basic financial statements or RSI? A. The budget of the fund must be adopted on the modified accrual basis. B. The fund must be a major proprietary fund or a trust fund with a legally adopted budget. C. The fund must be the debt service fund. D. The fund must be a major special revenue fund with a legally adopted annual budget. Suht Answers