Which of the following is true regarding the government-wide financial statements?

A. The government-wide financial statements include capital assets, including infrastructure, and reflect depreciation, except for infrastructure using the modified approach.
B. The government-wide financial statements are not required to present prior-year data.
C. The government-wide financial statements include a Statement of Net Position and a Statement of Activities, but not a Statement of Cash Flows.
D. All of the choices are true.


Answer: D

Business

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