Question

A budgetary comparison schedule should be presented as required supplementary information for the general fund and for each special revenue fund that has a legally adopted annual budget when should ?

A. For every fund
B. Only for special revenue funds
C. Only for the general fund
D. For the general fund and each special revenue fund with a legally adopted annual budget

Answer 1

D. For the general fund and each special revenue fund with a legally adopted annual budget. A budgetary comparison schedule should be presented for the general fund and each special revenue fund with a legally adopted annual budget.

Step-by-step explanation:

A budgetary comparison schedule should be presented as required supplementary information for the general fund and for each special revenue fund that has a legally adopted annual budget. This means that a budgetary comparison schedule should be prepared for the general fund and any special revenue fund that has a legally adopted annual budget.

Option D is the correct answer: For the general fund and each special revenue fund with a legally adopted annual budget.

For example, if a city has a general fund and special revenue funds for its parks and recreation department and its library services, the budgetary comparison schedule should be presented for the general fund, the parks and recreation special revenue fund, and the library services special revenue fund.