Final answer:
The given statement,"Fund-based financial statements are intended to provide detailed financial information about the governmental, business-type, and fiduciary activities of the primary government." is false. Option B
Step-by-step explanation:
False. Fund-based financial statements are not intended to provide detailed financial information about the governmental, business-type, and fiduciary activities of the primary government.
Fund-based financial statements are used by governments and other organizations to track the financial transactions of specific funds or types of activities. These statements provide information about the inflows and outflows of financial resources, as well as the assets, liabilities, and equity associated with those specific funds or activities.
On the other hand, government-wide financial statements serve the purpose of providing a broader view of the overall financial position and results of operations of the government as a whole, combining all governmental, business-type, and fiduciary activities. Option B