Question

When preparing external financial statements that are in accordance with generally accepted accounting principles, a government is required to prepare A. A comprehensive annual financial reportB. Basic financial statements, management's discussion and analysis, and other required supplementary informationC. Both items A and BD. None of the above

Answer 1

Answer: the correct answer is B. Basic financial statements, management's discussion and analysis, and other required supplementary information.

Explanation:

Option b is very comprehensive of all the generally accepted accounting principles.